CPI Data Could Boost Gold to New HighsGoldOANDA:XAUUSDwqwd3110Gold rose again during the Asian session today, with consecutive hourly gains raising the overall price level. Currently, gold is consolidating around $4400. The 1-hour chart shows that gold did not break below the key level of $4360, but it did break through the high of the US session's rebound. This indicates that the current bullish trend is stronger. Today's CPI data will be a crucial news event for gold. The market expects 3.4% for CPI. If today's data is lower than 3.4%, gold will continue to accelerate its rise; conversely, it will be pressured downwards. Currently, gold has double bottom support in the $4357-$4360 area, with stronger support at $4320. As long as gold does not break below $4320, the main trend remains upward. We can see that the short-term moving average system for gold remains in a bullish alignment, and the upward structure of gold has not been broken. However, after continuous gains, gold is showing signs of insufficient bullish momentum. With today's crucial CPI data released, a significant amount of capital is adopting a wait-and-see approach, and gold is likely to remain range-bound throughout the day. In summary, today's short-term trading strategy for gold is primarily to buy on dips, with selling on rallies as a secondary approach. Pay close attention to buying opportunities in the 4360-4370 area, and focus on resistance in the 4435-4450 area. When suitable trading opportunities are unavailable, it is advisable to remain on the sidelines.