Gold consolidates around weekly S1

Gold was almost completely unchanged during the trading day on Tuesday. The bullion made an attempt to return back above the 2013 low and weekly S1, but these levels were strong enough to keep bulls under pressure. As a result, Gold is still trading around $1,175 level. Even though during holidays no major drivers for Gold are expected, technical indicators on both short and medium-term started giving signals to sell the metal. Therefore, we may see it falling down to the monthly PP in the foreseeable future. 

Distribution between opened positions for buying and selling Gold are remaining strongly positive in favor of latter, as bulls have a stable majority with 72% of all trades. Compared to yesterday, opened positions registered no changes.