Gold fell modestly after the release of the FOMC minutes. Markets ignored minutes and price action remains limited. Gold reached earlier today a 1-week high at $1229, but it was rejected and turned to the downside. After the release of the FOMC minutes dropped to $1222. As of writing trades at $1224, up $4 for the day. It is the second daily gain in-a-row for the metal that continues to the trade in the $1230 – $1220 range. The minutes showed that almost all FOMC members considered a rate hike warranted fairly soon. Policy makers discussed changing language on ‘further gradual’ rate hikes. Regarding the “neutral level,” a couple of participants noted that the federal funds rate might be near that level. The greenback was unaffected by the minutes while equity prices in Wall Street rose. The US dollar consolidates most of the losses that followed Powell’s speech yesterday. Levels to watch Gold is currently in a range with two key levels to watch. To the upside, the $1230 area has become a solid barrier that if broken could trigger more gains to $1236 initially and then $1240. On the flip side, a consolidation below the lower limit of the range at $1220, would signal more weakness ahead with a target at $1215 and then $1210 (weekly low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Firms absorbing rising cost – NBF FX Street 4 years Gold fell modestly after the release of the FOMC minutes. Markets ignored minutes and price action remains limited. Gold reached earlier today a 1-week high at $1229, but it was rejected and turned to the downside. After the release of the FOMC minutes dropped to $1222. As of writing trades at $1224, up $4 for the day. It is the second daily gain in-a-row for the metal that continues to the trade in the $1230 - $1220 range. The minutes showed that almost all FOMC members considered a rate hike warranted fairly soon. Policy makers discussed changing… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.