There are mixed forces for gold. Seasonals are very strong with the end of December through to the end of February being very strong for gold. However, if real yields break higher on a hot CPI print gold looks vulnerable to falls.
Note that the monthly gold chart has a very bearish pattern - False break of a Harami Inside Bar. So, this would be the catalyst (if CPI is hot) for a move back down to $1725 ish. That could then be a dip to buy ahead of seasonals, Fed dependent.
