Gold Climbs 2.5% to $4,370 as U.S. Jobless Claims Fall to 196,000
Updated
Updated · Kitco NEWS · Sep 17
Gold Climbs 2.5% to $4,370 as U.S. Jobless Claims Fall to 196,000
1 articles · Updated · Kitco NEWS · Sep 17
Summary
$4,370.58 an ounce marked fresh session highs for spot gold on Thursday morning, leaving the metal up 2.50% on the day after the U.S. labor data release.
196,000 Americans filed new unemployment claims in the week ended Sept. 12, well below the 208,000 consensus and down from the prior week's 206,000.
203,250 was the four-week average of new claims, also under the 206,000 forecast, suggesting labor-market strength extended beyond a one-week drop.
1.730 million continuing claims for the week ended Sept. 5 likewise beat expectations of 1.780 million, reinforcing the stronger-than-expected employment picture.