Ends week on positive note Gold price managed to close the last session of the week on a positive note after losing almost all the gains made in the day following the monthly US jobs report and concerns about China’s indebted property sector. Gold in the international market was available at $1758.10 per ounce after gaining $1.70. Following the impressive upsurge to a fresh 15-day high of $1,781, gold lost its traction and pared the majority of its daily gains with the benchmark 10-year US T-bond yield renewing multi-month highs above 1.6pc. Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs96,300 after shedding Rs1,500 on Saturday. The closing prices of the yellow metal in the country remained Rs97,800 on Friday last. The overnight change in gold price when the local market was closed remained the main reason behind this fall in local prices. According to experts, concerns pertaining to China’s indebted property sector resurfaced after Fantasia Holdings – a mid-sized developer – did not make the payment of a $206 million bond maturing on October 3, triggering a formal default. The monthly US jobs report cemented expectations the Federal Reserve (Fed) will start unwinding crisis-era stimulus starting in November. From a technical side, any subsequent move up might continue to face resistance near the $1,770 region, or one-and-half-week tops touched on Monday. The next relevant hurdle is pegged near the $1,774-75 region ahead of the $1,783-84 area, above which bulls are likely to aim back to reclaim the $1,800 round figure. On the flip side, the $1,750-48 region, or the lower boundary of the weekly trading range, now seems to have emerged as immediate strong support. A convincing break below will set the stage for a slide towards the $1,729 intermediate support en-route September monthly swing lows, around the $1,722-21 region. Some follow-through selling would turn gold vulnerable to accelerate the downward trajectory towards challenging the $1,700 mark before eventually dropping to multi-month lows, around the $1,687-86 region touched on August 9.