July 29, 2021 (MLN): Gold continued its gaining momentum on the second consecutive day as the price of 24 karat per tola gold jumped by Rs950 and was traded at Rs110,500 against its yesterday close at Rs109,550.

Likewise, the price of 10-gram 24 karat also surged by Rs815 to stand at Rs94,736 while the price of ten-gram of 22 karat inched up to Rs 86,841, as per data provided by Karachi Sarafa and Jewellers Association.

Unlike gold, the price of 24-Karat silver per tola and 10-gram silver remained stagnant at Rs1,460 and Rs1,251.71, respectively.

Meanwhile, the international market observed thriving demand for yellow metal owing to the dovish tone of Federal Reserve Chairman’s Jerome Powell. In addition, a relatively weak position of dollar added support to the metal which led its price to $1,822 per ounce, up by $23. While silver was traded at $25.47.

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