Comex gold remains in consolidation, says RHB

Comex gold futures are still in a consolidation phase, RHB Retail Research’s Joseph Chai notes in a report. A narrow candlestick on Thursday’s daily chart reflected neutral momentum, suggesting sideways price action. The precious metal continues to trade within range, with $3,800/oz acting as the immediate resistance. A decisive break above this level could lift sentiment and open the way for a bullish move toward the next resistance at $4,000/oz, Chai adds. Spot gold inched 0.1% higher to $3,752.32/oz.