Spot gold may revisit Sept. 20 low of $1,741.86

SINGAPORE: Spot gold may revisit its Sept. 20 low of $1,741.86 per ounce, as the drop on Wednesday confirms a completion of the bounce from this level.

The bounce ended around a falling trendline, which remains steady and suggests an intact downtrend from the Sept. 3 high of $1,833.80. The trend is expected to extend into $1,724-$1,736 range.

Resistance is at $1,768, a break above which could lead to a gain to $1,776.

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