Gold began this week’s trading above the 1,500.00 mark. However, additional gains were being limited by the technical resistance of the 200-hour simple moving average just above the 1,510.00 level.

Meanwhile, the commodity price was being supported by the 55-hour SMA at 1,501.00.

In general, the price was expected to get squeezed in between these levels before resuming its surge.

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