BULLISH VS BEARISH CATALYST INVESTOR WAITS FOR CPI REPORT

The agony of traders has been immense for the last 3 sessions. We are witnessing that currently news about inflation and recession play a big role in the price movement. Gold touched the Resistance cluster at 1808.5 and after the data release it fell by an incredible 42 points, after which surge again towards the 1800 level. Technically, it is very difficult to predict the next path of gold, before we get the cpi results, indicators with mixed values give little help at the moment. There is a lot of talk that the current demand for gold is the highest in the past 55 years. On the other hand, there is speculation as to whether the FED will slow down interest rates or not. After browsing through a few sources, I came to the conclusion that it is leaning more towards higher interest rates, the reason is firstly the goal of 2% inflation, with the same Powell said that interest rates will be high for a long, long time, and most people read that Inflation is losing steam . If the FED has raised interest rates up 5 times to now, I see no reason why it would not do so for the sixth time by the end of the year. If my assumptions come true, I expect gold to return to 1775 again by the end of the year if next week's Fundamentals are as expected, if the Dollar continues to weaken and gold breaks through 1811.50, we expect a new all time high in the long term.