Gold price jumps to Rs94,500 per 10gm


Gold prices gained around 0.6 percent in the inter-national market on Monday as the US dollar weak-ened.

At 1200 hours GMT, gold in the international mar-ket was available at $1,792.20 per ounce after gain-ing $10.50.Meanwhile, the price of 10 grams of yellow metal in Pakistan increased to Rs94,500 after gaining Rs500.

The closing prices of the yellow metal in the coun-try remained Rs94,000 on Friday last. The Technical Confluences Detector (CTD) shows that gold has regained the powerful resistance, now turned as support, at $1784.

The next critical resis-tance is now seen at $1793. The buyers will then target the $1795 supply zone, which is the meeting point of the previous week’s high, pivot point one-week R1 and SMA200 four-hour.

Acceptance above the latter will clear the path towards the $1800 round figure, above which the doors will open up for a test of the $1,808 resistance.—TLTP


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