SINGAPORE: Spot gold may retest a resistance at $1,856 per ounce, a break above which could lead to a into a range of $1,864-$1,871.

The correction triggered by the resistance seems to have ended around a support at $1,834, after gold managed to stabilise around this level.

The uptrend may have resumed. A break below $1,834 could cause a fall into $1,824-$1,830 range. On the daily chart, a retracement analysis reveals a few levels that control the current rise.

Spot gold may retest resistance at $1,876

After rising above $1,837, gold is expected to test the resistance at $1,867.

A break could open the way towards $1,892-$1,917 range.