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Gold prices touch session highs as U.S. weekly jobless claims rise to highest level since Oct. 2021
Momentum in the U.S. labor market continues to slow with the number of America workers applying for first-time unemployment benefits pushing back to their highest level since Oct. 2021. Thursday, the U.S. Labor Department said that weekly jobless claims rose by 28,000 to 242,000, up from the previous week's revised estimate of 233,000 claims. The latest labor market data significantly missed expectations. According to consensus forecasts, economists were expecting to see jobless claims rise at a much slower pace to 236,000. The disappointing employment data is providing some bullish traction for gold as prices trade ... (full story)