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(Kitco News) - Gold prices are trading at session lows on Thursday morning following the release of worse than expected labor market data after the number of Americans filing new claims for unemployment benefits came in above economists’ forecasts. Initial claims for state unemployment benefits came in at seasonally adjusted 200,000 for the week ending November 7, the Labor Department announced on Thursday. The number was above expectations, as consensus estimates forecasted a reading of 195,000 claims. The previous week’s figure was revised to 191,000. Spot gold was setting fresh session lows following the 8:30 am ET data release, and last traded at $3,903.98 per ounce for a loss of 2.11% on the daily chart.
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