Top Stories This Week: Fed Minutes Spark Speculation, UEX Bidding War Wraps Up

Top Stories This Week: Fed Minutes Spark Speculation, UEX Bidding War Wraps Upyoutu.be

After breaching the US$1,800 per ounce mark last week, the gold price trended down this week.

The yellow metal fell from about US$1,782 at the start of the period to just under US$1,750 at the time of this writing on Friday (August 19) afternoon, reaching its lowest level so far in August.

Attention has been directed at the latest US Federal Reserve meeting minutes, which cover the central bank's late-July meeting. Minutes are always carefully scrutinized by market watchers, and that's especially true right now with interest rates and high levels of inflation still top of mind for investors.

However, the takeaways from the latest document are fairly murky — while officials suggested that they will eventually need to slow the pace of rate hikes, they left the door open for another large increase in September.

The next Fed meeting is scheduled to run from September 20 to 21, but commentary from the central bank is also expected to emerge from its meeting in Jackson Hole, Wyoming, which will take place at the end of next week.

With the Fed's next interest rate steps in mind, we asked our Twitter followers this week how much they think the central bank will hike in September. By the time voting closed, most respondents said they anticipate a 50 basis point rise; that would be lower than last month's 75 basis points.

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource and follow me @Charlotte_McL to share your thoughts!

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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