At the start of the new week, the price of gold remained stagnant and did not show much movement. It hovered around the $1,950 mark in the Asian session.
This type of price action is considered a bullish consolidation phase which suggests that one should be wary before making any significant changes from the one-month highs achieved on Friday.
If the upward momentum continues, it is possible that gold prices could reach the 1980 level by the end of the week.
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