Gold Falls 2.11% to $3,903.98 as US Jobless Claims Rise to 200,000
Updated
Updated · Kitco NEWS · Nov 12
Gold Falls 2.11% to $3,903.98 as US Jobless Claims Rise to 200,000
3 articles · Updated · Kitco NEWS · Nov 12
Summary
$3,903.98 an ounce marked spot gold's latest trade after the metal hit session lows following the 8:30 a.m. ET U.S. labor data release.
200,000 Americans filed new jobless claims in the week ended Nov. 7, above the 195,000 forecast and up from the prior week's revised 191,000.
195,250 was the four-week average of new claims, also above expectations of 192,500, reinforcing signs of softer labor-market momentum.
1.697 million continuing claims came in below the 1.710 million estimate and down from a revised 1.717 million, tempering the weakness signaled by initial claims.