Gold Nears $4,600 as US Jobless Claims Fall to 203,000
Updated
Updated · Kitco NEWS · Aug 27
Gold Nears $4,600 as US Jobless Claims Fall to 203,000
1 articles · Updated · Kitco NEWS · Aug 27
Summary
$4,595 spot gold held near the $4,600 mark after briefly dipping following Thursday’s 8:30 a.m. ET U.S. labor data release.
203,000 Americans filed new unemployment claims in the week ended Aug. 22, below the 208,000 consensus forecast and down from a revised 207,000 the prior week.
1.778 million continuing claims also beat expectations of 1.790 million, reinforcing signs of labor-market resilience even as the four-week average rose to 205,500 from 204,250.
The mixed market reaction left gold little changed on the day—up 0.01%—with traders weighing stronger employment data against bullion’s broader momentum near record territory.