As gold touches $2,400 an ounce can The Fed. do anything?
The Fed. is in a debt trap of its own making.
Edit
An ounce of gold is now $2,425. It’s gone up 4% in just a few hours!
In reality it is the US fiat currency falling against real money!
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They could close shop and go home. 
The Captain
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Rising gold prices should prompt The Fed. to raise interest rates to protect the US currency. Foreign central banks are selling dollars and buying gold, foregoing the interest that those dollars would have brought them. Inflation is higher than the coupon on Treasuries so central banks are going into gold to protect themselves.
Higher interest rates would also cause a recession and The Fed. should let this run its course and let the system reset. Problem is that this is election year!