Gold Price Prediction: If CPI Rises XAU/USD Can Reach $1900?

<p>&nbsp;Gold investors are cautious due to the geopolitical pressure of US-China investment restrictions.</p><p>&nbsp; The price of gold is seen to be in a "Bearish" state based on the "Technical Setup" on the "Daily Chart"</p><p>"U.S Consumer Price Index" data becomes the focus</p><p><br /></p><p>In the Hong Kong and Mumbai sales session, gold prices were seen trying to recover from today's $1914 price level. Expected CPI data tonight shows that the inflation rate is expected to increase to 3.3% compared to 3.0% last June. While the annual Core CPI data is expected to remain at 4.8%.</p><p><br /></p><p>Expected "Crowd Response" CPI Data</p><p><br /></p><p>If the release of CPI inflation data tonight is seen as giving a surprise to the "increase" in the inflation rate, then the market sentiment will expect the "FED" to have the potential to raise interest rates. At the same time, giving a "Bullish" impulse to the price of the US Dollar index (DXY) and US Treasury Bond Yields. Indirectly put "Bearish" pressure on the price of gold where $1900 will be tested.</p><p><br /></p><p>Technical Analysis: "Daily Chart"</p><p>Based on technical analysis on the "Daily Chart", gold prices are still facing "Bearish" risks. If the CPI data release is as expected, selling pressure will occur as well as test the $1900 price level. However, if the production of the data is otherwise, it is seen to be able to save the price of gold from continuing to fall. $1930 will be tested and has the potential to recover up to the $1950 level.</p>