Thursday, the U.S. Labor Department said that weekly jobless claims fell by 13,000 to 198,000 during the week ending Oct. 14, down from the previous week's revised estimate of 211,000 claims.
The latest labor market data was better than expectation. According to consensus forecasts, economists were expecting to see jobless claims rise hold steady around 210,000. However, the red-hot labor market is not having much impact on the gold market as prices are holding relatively steady, seeing some mild technical selling pressure. December gold futures last traded at $1,965.50 an ounce, down 0.14% on the day.
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