Today the Federal Reserve released the minutes from the last FOMC meeting, giving market participants more insight into the future actions and timeline of upcoming changes to their current monetary policy.

Gold futures basis most active December 2021 Comex contract opened at $1789.10 and then traded within $2.90 of $1800, before closing lower on the day compared to both its opening price and yesterday’s close.

The next important insights into the current thoughts and plans of the Federal Reserve will come on Wednesday, August 18, when the Federal Open Market Committee Meeting minutes will be released.