April gold futures settled down $6.30 or 0.29% to close at $2183.30. Today gold opened at $2183.40, traded to a high of $2188, and is currently fixed at $2166.50 down $16.80 or 0.77% after making a new record high earlier in the week.

Right after this month’s FOMC meeting concluded and Chairman Powell held his regular press conference gold began to move into uncharted territory.

Investor’s long-awaited update regarding the Federal Reserve’s plan to cut its benchmark interest rate (Fed funds) is finally over, and financial markets overwhelmingly welcomed what the Fed revealed today.