Today's market analysis

Gold closed lower for the sixth consecutive day after the Federal Reserve released the minutes of its September meeting. The minutes revealed that the "overwhelming majority" of officials on the Federal Open Market Committee (FOMC) supported a 50-basis-point interest rate cut. Despite this, gold still faced selling pressure and was currently trading near $2,610, down by more than 0.37%.

The FOMC minutes indicated that while all participants agreed on reducing interest rates, some officials preferred a 25-basis-point cut instead. Regarding the Fed's dual mandate in these two scenarios, almost all officials perceived downside risks to inflation and upside risks to the labor market.

Gold hovered around 2607, with the highest point reaching 2609 and the lowest dipping near 2605 as of press time. Keep an eye on the resistance levels at 2630-2640-2650. If these levels are not breached, it will test the support levels at 2600-2590-2580.