XAU/USD | CPI and PPI send gold high - war says NOPE!Gold / U.S. DollarFOREXCOM:XAUUSDAmirAliTradingAs you can see in the 4H chart of Gold, it surged after CPI news yesterday, going from 4015 all the way to 4102, but then it dropped yet again, before surging one more time today after PPI news dropped! It went from 4026 all the way to 4074, and is now being traded at 4058, inside the 4H FVG, above the Consequent Encroachment of the gap. CPI and PPI both came out softer than expected, sending Gold and other forex pairs up high. However, despite Gold's movement after the CPI and PPI news, and considering the Strait of Hormuz being closed and US also has put the Strait under siege, Gold is going to drop again in my opinion. A short-term bullish move is not out of the question, but as long as the geopolitical tensions are as high as they are now, with no negotiations, and the bombardment on Iran's important ports and islands, Gold is gonna remain bearish. Now, if IR accepts President Trump's demands within the next week before time runs out, war ends and Gold will go back higher sharply, but as long as the situation remains the way it is and geopolitical tensions at an all time high, Gold remain Bearish.