Gold continued scaling higher on Wednesday amid weakening US dollar and concerns over dwindling global economic recovery, fuelled by Delta Covid strain. As of 14:15 GMT, gold was available in the international market at $1,803.90 per ounce with a gain of $6.40. Meanwhile, the price of 10 grams of yellow metal in Pakistan increased to Rs91,900 with a gain of Rs100. The closing price of yellow metal in the country remained Rs91,800 on Tuesday. According to analysts, gold price is riding higher on concerns over dwindling global economic recovery, fuelled by Delta Covid strain flare ups and weaker US ISM Services PMI and German ZEW survey. The re-emergence of global economic concerns led to an influx of risk-off flows into the safe-haven assets such as the US Treasury bonds, gold etc, weighing negatively on the returns on the markets. They said the recent sell-off in the Treasury yields across the curve has been the main driver behind gold’s move above the $1,800 mark. The US dollar’s upside also remains capped by the weakness in the yields, with the benchmark 10-year rates down about 2.50 percent. Meanwhile, the risk-on action in the European equities also exerted bearish pressure on the safe-haven dollar while underpinning gold price.