Gold on Fed Radar: Ex-President Bullard on Committee Split

Former St. Louis Fed President Jim Bullard said the FOMC is nearly evenly split on a possible September rate hike, likely around a 10-9 vote. He noted many members remain undecided and could be persuaded either way.

Bullard stressed that even a hold decision could still appear hawkish because of the dot plot's forward guidance, which may signal one or two increases by year-end. This offers markets a clearer direction despite no immediate move.

He added that gold's rally signals eroding faith in the Fed, now on the committee's radar screen. Foreign central banks have preferred physical gold over Bitcoin this year and hold more than a billion ounces combined.