SINGAPORE: Spot gold faces a resistance at $1,830 per ounce, it may hover around this level or retrace towards a support at $1,815.

The resistance is identified as the 61.8% retracement of the downtrend from $1,876.90.

The previous resistance at $1,815 triggered two deep corrections.

The current resistance is stronger and may cause another one.

A break above $1,830 could lead to a gain to $1,848.

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