SINGAPORE: Spot gold remains neutral in a range of $1,716 to $1,746 per ounce, and an escape could suggest a direction.

A break below $1,716 could cause a fall into the $1,669-$1,691 range, while a break above $1,746 could open the way towards the $1,761-$1,783 range.

The bias could be towards the upside, as the metal refused to drop sharply after failing to break a falling trendline.

Bulls seem to have not given up retesting the resistance at $1,746.

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