The upcoming July CPI data will play a crucial role in determining gold’s future trajectory. With prices currently pivoting around the important $3,310.48 mark, traders are anticipating whether this level will act as a springboard launching gold to $3,500.20 or if it will lead to a reversal heading down to $3,120.76. The potential for volatility is high as market participants prepare for big moves following the CPI announcement. Understanding the implications of these data points is essential for anyone trading in the gold market.