With less than 24 hours before the FOMC meeting concludes market participants continue to factor in a much more aggressive and hawkish stance on the part of the Federal Reserve to combat the spiraling level of inflation.

Gold futures had modest gains in trading today as investors focus upon the recent CPI inflation index data indicating that inflation is running at a 40-year high at 6.8% year over year.

EDITORS NOTE We recorded an interview live at 9 PM Eastern Standard Time, I was part of that live podcast to address the record levels of inflation as revealed today. The video is below the Weekend Review