India, Aug. 28 -- Gold prices rose on Thursday as investors are pricing in a rate cut by the Federal Reserve amid recent developments casting doubts on the Fed's independence.
Front Month Comex Gold for September delivery climbed $25.70 (or 0.75%) to $3,431.80 per troy ounce.
Front Month Comex Silver for September delivery jumped by $47.70 cents (or 1.23%) to $39.190 per troy ounce.
Data released by the Department of Labor today revealed that initial jobless claims edged lower by 5,000 from the eight-week high in the previous week to 229,000 for the period ending August 23.
Meanwhile, the less volatile four-week moving average crept up to 228,500, an increase of 2,500 from the previous week's revised average of 226,000.
Continuing jobl...