(Kitco News) – The US labor market remains relatively stable as US weekly unemployment demands increased by 4,000 to 219,000 per week on Saturday, disappointing expectations.
The data were in line with forecasts that the consensus expectations prepared by various news organizations had requested that initial requirements be relatively unchanged at around 215,000. The previous week's report was revised with 2,000 requirements to 215,000.
Meanwhile, the four-week moving average for new claims – often seen as a more reliable target in the labor market since it smooths week-to-week volatility – was unchanged from last week's 212,500 claims
Continuing unemployment claims, number of people already receiving benefits and reported a one-week delay, falling by 5,000 to a seasonally adjusted 1
The data has had little impact on gold prices as the market continues to support over $ 1500 per ounce. Analysts have said investors and traders are low on data from the service sector released later this morning and Friday's non-farm report.
Gold futures in December last traded at $ 1,505 an ounce, down 0.19% on the day.
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