Spot Gold Reclaims $4,500 as U.S. Jobless Claims Rise to 225,000
Updated
Updated · Kitco NEWS · Jun 4
Spot Gold Reclaims $4,500 as U.S. Jobless Claims Rise to 225,000
1 articles · Updated · Kitco NEWS · Jun 4
Summary
$4,500.85 an ounce marked spot gold's latest trade after it climbed 1.49% and briefly touched $4,515 in Thursday morning dealing.
225,000 new U.S. jobless claims for the week ended May 30 came in above the 213,000 forecast, reinforcing expectations of a softer labor market.
214,750 was the four-week average of new claims, also above the 208,000 estimate, while the prior week's headline figure was revised down to 212,000 from 215,000.
1.777 million continuing claims were roughly in line with expectations, suggesting gold's move was driven mainly by the weaker-than-expected initial claims print.