Gold futures have been in a defined and narrow trading range ever since hitting a high of $1759 on April 8. This high was hit after gold traded to a second low, or double bottom on the 30^th and 31^st of March.

This morning the U.S. Bureau of laborers released its most current consumer price index for March. Inflation via the CPI came in above expectations by economists.

Tomorrow at 8:30 AM EST, the U.S. Bureau of labor statistics will release its Consumer Price Index summary.