Gold is under pressure because the latest report on US inflation is likely to force the Fed to keep on increasing interest rates aggressively, which supports dollar.
Technical picture:
The quote is currently below the middle line of the Bollinger indicator, under the SMA 5 and SMA 14. The relative strength index (RSI) is also below 50% and is declining.
Possible dynamics:
Dipping below 1846.70 will prompt a further fall to 1830.80.
