Gold price surged on Friday though a stronger US dollar capped most of the gains. As of 1315 hours GMT, gold in the international market was available at $1,942.50 per ounce, gaining $60. Out of a $6 per ounce increase, -$17.65 was due to the dollar’s strengthening and +$23.65 was due to predominant buyers, according to Kitco Gold Index. The price of 10 grams of 24-carat yellow metal in Pakistan, meanwhile, increased to Rs111,300 after gaining Rs900. Gold in the local market was available at Rs110,400 on Thursday last. The local prices increased due to overnight increase in gold prices internationally when the local market was closed. However, appreciation of the Pakistani rupee against the US dollar during the day impacted the gold prices negatively. The Russia-Ukraine crisis has revived gold’s demand as a safe haven. Gold surged to over $1,950 mark, especially after Russia attacked the Zaporizhzhia nuclear power plant, Europe’s largest nuclear power station in Ukraine. Investors got worried about the radiation risks after the fire was reported at the site. Ukrainian President Volodymyr Zelensky said that attack on nuclear facilities could be the “end of Europe.” Escalating nuclear risks hit the risk sentiment and drove gold price to the highest level in six days just above $1,950. On the other hand, the US dollar continues to gain strength amid an expected hike in interest rate by 50bps. Meanwhile, the benchmark 10-year US treasury bond yield is down more than 3 percent, providing an additional boost to gold. Moreover, the US non-farm payroll figures disappointed markets and weighed on the Federal Reserve’s aggressive tightening expectations, offering additional impetus to gold buyers. From a technical perspective, the Relative Strength Index (RSI) is holding firmer above the midline, adding credence to a potential move higher. With the bullish breakout, gold price is positioned to retest the 13-month highs of $1,975 if it finds acceptance above the $1,950 psychological barrier. On the flip side, the immediate cushion is seen at $1,935, below which a sharp sell-off could be triggered towards the powerful cap of $1,928. A firm break below the latter could fuel a fresh down-swing towards $1,916.