Spot gold trades at $5,076/oz after U.S. weekly jobless claims tick down to 227k

From kitco.com

Gold prices were trending higher following the release of worse-than-expected labor market data after the number of Americans filing new claims for unemployment benefits was higher than economists’ forecasts. Initial claims for state unemployment benefits came in at seasonally adjusted 227,000 for the week ending February 7, the Labor Department announced on Thursday. The number was higher than expectations, as consensus estimates forecasted a reading of 222,000 claims. The previous week’s figure was revised up to 232,000. Spot gold was approaching the upper edge of its recent range following the 8:30 am EST data ... (full story)