SINGAPORE: Spot gold may retest a resistance at $1,974 per ounce, a break above could open the way towards the $1,985-$1,992 range.

The metal is presumed to be rising in a channel, which may extend to $2,003, as the bounce triggered by the support at $1,945 looks strong enough to suggest a continuation of the uptrend.

Spot gold may test support at $1,963

Support is fixed at $1,956, a break below could confirm the extension of the downtrend towards $1,927.