India, Aug. 22 -- Gold prices jumped on Friday after the crucial keynote speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium today hinted at possible rate cuts in September.
Earlier losses due to uncertainty on the Fed's stance were covered later after the Fed Chair's speech rejuvenated the market.
Front Month Comex Gold for August delivery shot up by $37.50 (or 1.12%) to $3,374.40 per troy ounce today. Gold gained $38.40 (or 1.15%) per troy ounce for the week.
Front Month Comex Silver for August delivery surged by 97.60 cents (or 2.57%) to $39.003 per troy ounce today. Silver gained $1.1090 (or 2.93%) per troy ounce for the week.
Earlier in the session, expectations from traders for a Fed rate cut in September w...