Fed Minutes Show Growing Divide, Gold Holds Gains

The release of the Fed minutes this afternoon revealed a growing divide among Chairman Ben Bernanke and his fellow U.S. central bankers over the proper course of monetary policy.

The Fed minutes – a recap of the Federal Open Market Committee (FOMC) meeting – showed that at the most recent August 9th meeting, several members were in favor of further stimulus while others were concerned that additional rounds of quantitative easing could ignite inflation.

Gold futures maintained their gains following release of the Fed minutes, remaining higher by $45.30 at $1,836.90 per ounce.