Gold (XAU/USD) took a step back on Tuesday following Monday’s solid performance, slipping by around 0.4% to settle near $2,315. Despite recent fluctuations to the upside and downside, the precious metal has not really gone anywhere in the past two weeks, with volatility shrinking over the period in question in a possible sign of consolidation and traders waiting for new catalysts before re engaging.Technical: The market consolidation is not likely to end until prices either push past resistance at $2,355 or breach support at $2,280. Should resistance be overcome, the focus will turn to $2,415. Additional gains from this point forward may lead to renewed interest in the all-time high. Meanwhile, a break of support could trigger a fall towards a key Fibonacci floor at $2,260. Below this area, the spotlight will be on $2,225 “Never, ever argue with your trading system” - Michael Covel