SINGAPORE: Spot gold may retest a support at $1,945 per ounce, a break below could open the way towards the $1,985-$1,927 range. The bounce triggered by the support adopted a corrective wave mode.

With the metal having gradually slid from the March 28 high of $1,975.30, the downtrend seems to have resumed.

Spot gold may test support at $1,963

A break above $1,965 may lead to a gain into $1,974-$1,985 range.