Gold Prices Ignore 222K Weekly Jobless Claims
(Kitco News) - Initial weekly U.S. jobless claims topped consensus forecasts by rising 1,000 to a seasonally adjusted 222,000 in the week to Saturday, the Labor Department reported Thursday.
The report was in line with expectations as consensus forecasts compiled by various news organizations had called for initial claims to be around 230,000. The government revised the prior weekâ€™s tally to 223,000 from the previously reported 221,000.
The gold market is seeing little reaction to the in-line numbers as prices hold above $1,300 an ounce. August gold futures last traded at $1,305.90 an ounce, up 0.35% on the day.