Spot gold falls to session lows after U.S. weekly jobless claims drop to 187k

Gold is trading at session lows after US labor market data beat expectations, with new unemployment claims coming in below economists’ forecasts. The stronger jobs backdrop likely reinforces expectations for higher-for-longer rates, pressuring gold prices. The move is notable intraday but driven by macro data rather than a commodity-specific shock.

Analysis

Gold is trading at session lows after US labor market data beat expectations, with new unemployment claims coming in below economists’ forecasts. The stronger jobs backdrop likely reinforces expectations for higher-for-longer rates, pressuring gold prices. The move is notable intraday but driven by macro data rather than a commodity-specific shock.