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Gold holds gains after US jobless claims increase from 10,000 to 234,000

Editor's note: Update the previous story with more details of the report.

(Kitco News) Â Gold maintained its gains early after Labor Department data on Thursday showed that the first weekly jobless claims in the US rose 10,000 to 234,000 seasonally adjusted in the week before Saturday.

Consensus expectations gathered by different news agencies had called for an initial demand of about 220,000 people. The government left the previous week's unrevised account at 224,000 previously reported.

At 0836 eastern daylight time, cash was trading from $ 6.20 higher for the day to $ 1,226.90. 39; oz. Three minutes before reporting on jobless claims and personal income and expenses, the metal was $ 1,226.40.

At the same time, the four-week moving average of new jobless claims – often viewed as a more reliable measure of the labor market, as it reduces volatility week by week – increased by 4,750, to 223 250.

The number of people who are already receiving benefits and who are reported with a delay of one week has increased by 50,000 to 1,710,000 seasonally adjusted during the week ending November 17, announced the government.

Merchants are closely monitoring job data to determine the extent to which the US Federal Open Market Committee is aggressively changing monetary policy.

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