Gold prices holding below $1,900 as U.S. weekly jobless claims climb to 196K
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The latest labor market data missed expectations. According to consensus forecasts, economists were expecting to see jobless claims rise at a slower pace to 191,000. The four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it flattens week-to-week volatility – fell slightly to 189,250, down by 2,500 claims from the previous week's revised average.
Although weekly jobless numbers rose more than expected last week, the data shows claims are holding near their lowest levels since April 2022 and have been below the 200,000 for the last four weeks.
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