SINGAPORE: Spot gold may retest a support at $1,812 per ounce, a break below which could trigger a fall to $1,801.

The metal is riding on a wave C which is expected to travel into $1,784-$1,812 range.

The downtrend seems to be steadily developing, which is unlikely to be reversed.

Spot gold may fall into $1,801-$1,812 range

A break above $1,821 may lead to a gain to $1,829.