According to All Sindh Sarafa Jewellers Association, 24 karat per tola gold sold at Rs269,900 on Monday against its sale at Rs267,400.

It further reported that the price of 10 grams of 24 karat gold also went up by Rs2,144 to Rs231,396 from Rs229,252. that of 10 gram 22 karat gold increased to Rs.212,113 from Rs…210,148, it maintained.

According to FX Street, gold price bounced from new two-month low on Monday, boosted by a pause in dollar’s recent strong rally.

Fresh gains eye initial pivots at $2600/11, former strong supports, reverted to solid resistances, violation of which is needed to generate initial reversal signal and shift near term focus to the upside, it reported.

Recovery after the biggest weekly loss in more than three years (gold price was down 4.5% last week, strongly deflated by signals of Fed’s less aggressive stance on interest rates cuts ) still requires more information about the US central bank’s near-term rate trajectory, to generate clearer direction signal, it further reported.

Sustained break above $2600 to ease downside pressure, however, rise through next technical barriers at $2633 and extension through $2663 to validate signal.