A crunch meeting is scheduled to take place today, with Federal Reserve policymakers set to decide whether the December rate hike will be outsized, as has been the trend thus far in 2022, or the first of a smaller series of increases.
The FOMC meeting minutes are expected to give new insight into what the course of action leading in to 2023 will be, so could have a major impact on gold prices and stock indexes later this afternoon.
Opinion is divided as to whether December will mark the beginning of the end of painful rate hikes or if the Federal Reserve will continue with its present course of action into next year as it fights to bring down soaring inflation.
The minutes are expected to be released late afternoon, so be ready to take action and buy gold before prices spike.