The latest FOMC minutes show that the Fed will likely taper quantitative easing this year. It’s largely priced in, but downside risks to gold remain. Yesterday, the FOMC published minutes from its last meeting in July. The publication is rather hawkish, as it shows growing appetite among the Fed officials for tapering the quantitative easing as early as this year: Looking ahead, most participants noted that, provided that the economy were to evolve broadly as they anticipated, they judged that it could be appropriate to start reducing the pace of asset purchases this year because they saw the Committee’s “substantial ... (full story)