Gold tests $4,450 as Philly Fed, jobless claims firm rate risk

Early Thursday trade shows spot gold lower while spot silver is firmer after stronger-than-expected U.S. labor and regional manufacturing data trimmed part of Wednesday’s precious-metals rally. The data likely reduced rate-cut expectations by supporting yields, pulling gold back from its Treasury-led move, while silver held up better.

Analysis

Early Thursday trade shows spot gold lower while spot silver is firmer after stronger-than-expected U.S. labor and regional manufacturing data trimmed part of Wednesday’s precious-metals rally. The data likely reduced rate-cut expectations by supporting yields, pulling gold back from its Treasury-led move, while silver held up better.