Gold has been in an uptrend so far in the 2nd week of January. However, the price has been unable to re-test the $1815 level yet. In conjunction with this, the RSI levels on the larger time frames show extremely overbought levels. Today at 3 pm GMT chairman Powell of the Fed will speak regarding plans for rate hikes this year. Our in-house view is that many USD pairs will surge at the sign of higher inflation, thus pushing Gold down to the lower levels it saw in December.