If tonight's CPI data shows that inflation has picked up and remains strong, the expectation that the Fed will continue to raise interest rates will increase, which will put downward pressure on gold prices.
On the other hand, if the release data shows lower-than-expected inflation, this will reinforce the market's view that the Fed will not need to raise interest rates anymore thereby supporting gold prices.
On the other hand, if the release data shows lower-than-expected inflation, this will reinforce the market's view that the Fed will not need to raise interest rates anymore thereby supporting gold prices.
