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But it is also likely that there will be more pain ahead. If that assumption is correct, it could take gold dramatically higher. So, what does this mean for the future of gold pricing? I believe that although this report is extremely important in an exceedingly important data set that the Federal Reserve will use at their November 2 FOMC meeting, it will be next week’s CPI inflation report for September that will be much more significant.īut in terms of the long-term effect of the Federal Reserve on gold pricing, it is highly likely that if the Fed continues to raise rates and inflation remains persistent at some point market participants will have to focus on the high level of inflation rather than being laser-focused on rising rates. However, as of this writing at 3:20 PM, EDT over the last hour gold has been trading between $1702 and $1706. Gold futures did recover trading to approximately $1714 a few hours after the release of the report. Today’s report also had a deep impact on gold pricing which opened at $1721 and then traded to a high of $1722.80 before the release of the report which took gold futures basis the most active December contract to today’s low of $1698.40. The NASDAQ is currently down 3.75% a decline of approximately 415 points, and the S&P is down 106.16 points or 2.90%. As of 2:35 PM EDT, the Dow is currently trading off by 661 points a decline of 2.22%. Today’s report had a profound effect on U.S.

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