Gold futures experienced the largest percentage drop, even bigger than January 8, 2021, when market forces drove the precious metal 4.18% lower.

In yesterday’s opening letter I spoke about the fact that analysts seemed to be divided into two camps in regards to how they view the current monetary policy of the Federal Reserve.

Tomorrow at 2:30 EST, this month’s FOMC meeting will conclude, which will be immediately followed by a statement and a press conference including a question-and-answer period by the chairman of the Federal Reserve, Jerome Powell.