Gold price jumps to Rs97,700 per 10gm


Gold prices gained around 0.30 percent in the inter-national market on Wednesday amid cautious trad-ing.

At 1250 hours GMT, gold in the international market was available at $1,820 per ounce after gain-ing $4.90. Meanwhile, the price of 10 grams of yellow metal in Pakistan increased to Rs97,700 after gaining Rs600. Depreciation of rupee against the US dollar in another reason behind this increase.

The closing prices of the yellow metal in the coun-try remained Rs97,100 on Tuesday last. According to experts, gold price is being challenged by a bunch of healthy support and resistance levels, as gold failed to hold at higher levels.

They said the previ-ous week and day’s high at $1820 is the level to beat for gold bulls to make gains. On the flip side, the intersection of the Fibonacci 23.6%. —TLTP

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