Gold prices edged up for the sixth successive session on Wednesday and gained around 0.20 percent, as the US dollar’s pullback and Covid-19 concerns keep the prices buoyed. At 1230 hours GMT, gold in the international market was available at $1,790.70 per ounce after gaining $3.60 as compared to its closing value on Tuesday last. Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs94,600 after shedding Rs100. The closing prices of the yellow metal in the country remained Rs94,700 on Tuesday last. As the local markets are closed due to Ashura holidays, the difference in prices due to uptick in international markets will be settled on Friday when the local markets will resume functioning. According to experts, the US dollar has paused its two-day uptrend, as the risk sentiment is improving, despite the looming fears over the coronavirus spread on the global economic recovery. They said that the gold price advances towards the $18,00 mark but the rebound in yields poses a risk. The Technical Confluences Detector (TCD) shows that gold is fast approaching a dense cluster of healthy resistance levels around $1795, where the previous day’s high converges with the SMA200 four-hour and pivot point one-day R1. The next resistance awaits at the SMA50 one-day at $1798, above which $1802 (pivot point one-day R2) could challenge the bulls. Alternatively, the immediate downside target for gold bears is aligned near the $1787 region, which is the confluence zone of the Fibonacci 38.2pc one-day, SMA 100 four-hour and Fibonacci and the previous low four-hour. Another strong cap is seen at previous day’s and week’s lows around $1780. If the bearish interests pick up momentum, then the pivot point one-month S1 at $1776 could come to the rescue of gold bulls.