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

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

The current wave c is unfolding towards $1,948-$1,960 range.The volatility may remain low for a few days.

Spot gold may test resistance at $1,941

Support is at $1,929, a break below could cause a fall into $1,917-$1,922 range.

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