Gold prices hovered around the midpoint of their daily range on Thursday morning after labor market data came in stronger than economists had anticipated, according to Kitco News. The report from the precious metals news outlet followed a Labor Department release showing that new applications for unemployment benefits fell short of consensus projections. Initial claims for state unemployment benefits totaled a seasonally adjusted 197,000 for the week ending October 3, the Labor Department announced Thursday. Consensus estimates had pointed to 200,000 claims, placing the actual reading below expectations. The prior week's figure was revised upward to 199,000.
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