SINGAPORE: Spot gold may test a resistance at $1,952 per ounce, a break above which could lead to a gain into the range of $1,961 to $1,975.

The rise on April 8 confirmed an extension of the uptrend from the March 29 low of $1,889.45. The trend is riding on a wave c, which may travel into a range of $1,952 to $1,961.

Support is at $1,938, a break below could cause a fall into a narrow zone of $1,924 to $1,929.

Spot gold may retest resistance at $1,948

On the daily chart, gold looks neutral within a range of $1,890 to $1,959.

The bias looks towards the upside while the metal is approaching $1,959.

A small double-bottom around $1,890 will be confirmed once gold breaks $1,859.