We expect nada from the Federal Reserve today.   Very little has changed since the August 10 FOMC meeting other than the spike in commodity prices and the level of noise. Members will be hard pressed to find reasons to move, except maybe to tinker with the maturity structure of their new bond purchases from the proceeds of maturing securities.   Gold could get spanked and test its old resistance of $1,265, where we would be buyers. Will the “extended period” language be enough to keep Gold rallying for an extended period?  Stay tuned!