Gold prices feel the pressure as weekly jobless claims remain below 200k for sixth week - Kitco

(Kitco News) - Gold prices continue to hold support above $4,000 an ounce; however, according to some analysts, a relatively steady labor market could continue to put pressure on the precious metal. Initial claims for state unemployment benefits came in at a seasonally adjusted 194,000 for the week ending October 24, the Labor Department announced Thursday. The data was slightly better than expected, as consensus estimates had called for a rise to 198,000. This marks the sixth consecutive week that jobless claims have remained below the 200,000 level, the longest streak since January 2023.