Gold waiting to react if US CPI delivers a surprise

Just now an update here noted the lack of reaction in the USD/JPY to the push higher in US treasury yields this afternoon. Well the same applies to gold right now too. The Yellow metal is still in mid range, as it too waits to see what the US CPI has to offer. The range seen so far today has been covered by $2,606.00 to $2,618.94. Gold is towards the upper end of that range just now, but still camped below the 21 day moving average which if closed below last night (2,607.77 was the close). It will surely react to the US data shortly and that entirely depends on what gets delivered here. Higher CPI inflation will surely send the metal lower again, whereas the opposite applies if the data is lower. The 21 day moving average is in place right now at $2,622.90. Gold is currently trading at $2,614.90