The Federal Reserve released the minutes of its July meeting, and it generally said that discussions over policy tapering will resume at the next meetings.
In terms of inflation, it said that there were unexpected surges in parts of the economy, so there remains a high level of uncertainty about the US economic outlook, including possible volatility in the financial market.
And even though jobs increased in July, inflation remained well above the Fed's 2% target. It is for this reason that some members have called for a quick end to emergency programs.
To be more specific, they want the bond purchase program to end before the lending rate rises.
Accordingly, this pushed demand for gold up, but it went down again during the Asian session.
In any case, many believe that the Fed will begin scaling back programs in the coming months, and more details will be known at the upcoming Jackson Hole symposium next week.
