Spot gold trades near session lows after U.S. weekly jobless claims drop to 208k

Gold is near Thursday session lows after U.S. labor-market data came in stronger than expected, with new unemployment claims below economists’ forecasts. The better jobs signal reduces the case for near-term rate cuts, pressuring gold prices. Market focus is shifting to how the data influences Treasury yields and the Fed path.

Analysis

Gold is near Thursday session lows after U.S. labor-market data came in stronger than expected, with new unemployment claims below economists’ forecasts. The better jobs signal reduces the case for near-term rate cuts, pressuring gold prices. Market focus is shifting to how the data influences Treasury yields and the Fed path.