SINGAPORE: Spot gold still targets $1,833 per ounce, as suggested by its wave pattern and a projection analysis.

The metal is riding on a wave C, which may either end around $1,833 or extend a lot to $1,898.

In either case, it may fail to break the resistance at $1,833 at first attempt and then start a correction.

Spot gold may extend its gains to $1,833

A break below $1,806 may be followed by a drop into $1,775-$1,788 range.