Overall, the trend of the yellow metal is bearish, as you can see gold prices are trading below 100 periods moving average. Moreover, the RSI and Stochastic are also holding near 20 (below 50), signaling bearish sentiment of investors.
Let’s say, if the CPI figures disappoint, we may see a bullish reversal in gold, especially if it continues to trade above $1,207 before the news release.