Gold prices are experiencing a dip as investors react to comments from Federal Reserve Chair Jerome Powell, who indicated that there is no immediate plan for rate cuts. This has raised concerns about inflation data and ongoing trade tensions impacting the gold market. Current support for gold stands at approximately 2857.49. Traders are advised to keep a close watch on upcoming CPI data, as strong figures could put further downward pressure on prices. The intricate relationship between economic indicators and gold performance makes this an important time for market participants to stay informed.