Spot gold to fall more to $1,750

SINGAPORE: Spot gold is likely to fall more to $1,750 per ounce, as it is riding a downward wave c.

This is the third of a three-wave cycle that started at the Oct. 5 high of $1,795.69, unfolding towards its 100 percent projection level at $1,750 and a break below which will lead to a further loss to $1,739, the 138.2 percent level.

Rebound from the current level may be limited to $1,770, a rise above which will make the signals neutral.

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