Today, Gold is expected to experience bearish volatility, primarily influenced by the anticipated CPI results.
The price maintains a bearish outlook as long as it trades below 2612 and 2625, with potential targets at 2587 and, subsequently, 2554 if downward momentum continues.
A bullish reversal would require a break above 2625, which may only be likely if the CPI release is below 2.6%. However, we expect a CPI outcome around 2.9%, indicating higher inflation, which would likely exert negative pressure on Gold.
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