Federal Reserve meeting minutes become a key turning point

On Wednesday, the spot gold market experienced a ups and downs, showing an overall trend of first falling and then rising.

 The intraday low reached $2493.78 per ounce, indicating that the market has been under significant downward pressure 

in a short period of time. With the release of the minutes of the Federal Reserve meeting, market sentiment quickly changed

 and gold prices rebounded, but ultimately ended in a slight decline, closing at $2512.41 per ounce, a decrease of 0.06%.

In early trading, spot gold prices were affected by multiple factors and fell. On the one hand, the market may still be digesting

 previous or recent economic data and market dynamics, which may include global economic growth prospects, geopolitical

 tensions, and monetary policy expectations of major economies. On the other hand, investors remain highly concerned about 

the direction of the Federal Reserve's future monetary policy, while the market generally expects the Fed to continue raising

 interest rates to cope with inflationary pressures, which to some extent suppresses the safe haven demand for gold.

With the release of the minutes of the Federal Reserve meeting, market sentiment has undergone significant changes.

 The meeting minutes may contain important clues about the future path of monetary policy, particularly discussions on

 the pace and magnitude of interest rate hikes. If the meeting minutes reveal signals that the Federal Reserve may slow down 

or pause its pace of future interest rate hikes, it will help alleviate market concerns about tightening monetary policy, thereby 

boosting safe haven demand for gold. Therefore, after the release of the meeting minutes, spot gold prices quickly rebounded,

 indicating a positive market response to this news.

Looking back at the trend throughout the day, spot gold prices have shown a clear pattern of first suppressing and then rising. 

The sluggish performance in the morning session may reflect the market's cautious attitude towards the future economic outlook 

and monetary policy, while the rebound in the afternoon was mainly due to the positive impact of the Federal Reserve meeting 

minutes. Although the final gold price did not achieve an increase, this rebound undoubtedly injected new vitality into the market 

and indicated that there may still be further room for gold prices to rise in the future.