The Federal Reserve’s next FOMC meeting is just under two weeks away, and market participants are gaining insight from Chairman Powell and other Federal Reserve voting members.

Chairman Powell had up until recent statements, maintained that inflation levels had peaked, were transitory, and would begin to decline. However, the newest information suggests otherwise. Inflation is currently at 8.5%, a 40-year high.

Ask any investor or market participant whether gold prices have been steadily moving to higher prices based on rising inflation levels. However, that short trend came to a logical conclusion in trading today.