Gold price holding solid gains as U.S. weekly jobless claims rise by 29K
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The gold market is holding steady gains following the miss in the latest labor market data. December gold futures last traded at $1,726.10 an ounce, up 0.30% on the day. The labor market has been sending some fairly mixed signals this past week.Wenesday, private sector payrolls processor ADP said that 208,000 private sector jobs were created in September, slightly beating expectations. However, Tuesday, the Labor Departments JOLTS survey showed that the number of job openings in August dropped by more than one million. It was the biggest drop in job openings since April 2020 when the global economy was rocked by the COVID-19 pandemic.
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