SINGAPORE: Spot gold may test a resistance at $1,941 per ounce, a break above which could lead to a gain into $1,948-$1,960 range.

The bounce from the Wednesday low of $1,894.70 may consist of three waves.

The current wave c is unfolding towards $1,941-$1,948 range.

Support is at $1,917, a break below which may be followed by a drop to $1,895.

Spot gold may retrace to $2,019

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