A closed system at constant temperature and pressure contains a gaseous mixture undergoing the reversible reaction represented below.

\[ \text{X(g)} \rightleftharpoons \text{Y(g)} \]

The graph shows the total Gibbs free energy, \(G\), of the system as a function of the reaction progress from pure \(\text{X(g)}\) to pure \(\text{Y(g)}\). Point \(E\) marks the minimum of the curve.

Which of the following statements correctly interprets the thermodynamic state of the system at the indicated point?