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Gold price holding below resistance at $2,400 following unchanged weekly jobless claims

Kitco Media
By Neils Christensen
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Gold price holding below resistance at $2,400 following unchanged weekly jobless claims teaser image

(Kitco News) - Gold prices continue to consolidate around $2,400 an ounce even as the U.S. labor market remains fairly stable.

Initial claims for state unemployment benefits were unchanged at 212,000 for the week ending April 13, the Labor Department said Thursday. The labor market data was relatively in line with expectations.

The gold market is not seeing much reaction to the muted labor market data as it holds solid gains in elevated territory. June gold futures last traded at $2,3967.50 an ounce, up 0.38% on the day.
 

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Neils Christensen

Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @KitcoNewsNOW

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gold priceweekly jobless claimslabor marketus economy

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