Gold Holds at $4,122 as U.S. Jobless Claims Fall to 197,000
Updated
Updated · Kitco NEWS · Oct 8
Gold Holds at $4,122 as U.S. Jobless Claims Fall to 197,000
1 articles · Updated · Kitco NEWS · Oct 8
Summary
$4,122.37 an ounce marked spot gold's level after the Labor Department reported 197,000 new jobless claims for the week ended Oct. 3, a 0.27% daily gain that kept prices near the middle of their range.
The claims figure beat the 200,000 consensus forecast, signaling a firmer-than-expected labor market even as the prior week's reading was revised up to 199,000.
At 198,000, the four-week moving average matched expectations and fell from a revised 200,500, reinforcing the picture of limited layoffs.
Continuing claims rose to 1.716 million from a revised 1.699 million and topped the 1.710 million estimate, suggesting some unemployed workers are taking longer to find new jobs.