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Gold holds steady after light Monday session

© Dukascopy Bank SA
"It seems unlikely that any particular group would put a floor under the gold price at this stage."
- CMC Markets (based on CNBC)

Pair's Outlook
On Monday the bullion has spent its most tranquil trading session this year. Prices of gold were broadly unchanged near the weekly pivot point at 1,089. The bulls decided to wait for more pronounced fundamental impetus, and even Chinese data is failing to move the metal during the Asian session on Tuesday. More events are scheduled for Wed-Fri, and disappointment there should encourage gold purchases with the bullish target at 1,100. In the next 24 hours, however, trading is likely to keep balance between the long and short market participants.  

Traders' Sentiment
In the morning on January 19 somewhat more than 55% of all SWFX traders are betting on the bullion's increase in price in the nearest future, no change over the last 24 hours. 

© Dukascopy Bank SA

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