U.S. Jobless Claims Hold at 197,000 as 5.11% Treasury Yield Pressures Gold
Updated
Updated · Kitco NEWS · Sep 24
U.S. Jobless Claims Hold at 197,000 as 5.11% Treasury Yield Pressures Gold
3 articles · Updated · Kitco NEWS · Sep 24
Summary
Initial U.S. jobless claims came in at 197,000 for the week ended Sept. 19, below the 201,000 consensus and the lowest level since mid-July.
That reading reinforced views of a resilient labor market, giving the Federal Reserve more room to keep raising rates as persistent inflation keeps its tightening bias intact.
Gold showed little immediate reaction but stayed under pressure, with spot bullion down 0.50% at $4,264.40 an ounce and still struggling to regain $4,300.
Rising yields added to the strain: the U.S. 10-year Treasury yield climbed to 5.11%, its highest level in 20 years, while the four-week claims average fell to 202,250.