Although gold is trading under pressure today after breaking below a critical support area of $1300, it has recovered slightly from the intraday low which came in at $1292.50.

Gold prices broke and closed above a critical resistance level when gold traded past $1300 this morning. As of 430 EDT, the most active gold futures contract (December 2017) gained $9.30 on the day to close at $1305.80.

Gold continues to gain value as traders and market participants glean the minutes from last month’s FOMC meeting which were released yesterday.