Gold Approaches Session Lows After US Jobless Claims Fall to 208k

Gold prices fell toward session lows on Thursday morning after stronger-than-expected US labor data emerged. New unemployment claims totaled 208,000 for the week ending July 11, below forecasts of 217,000, with the prior reading revised to 216,000.

The four-week moving average came in at 214,250 versus expectations of 216,000, while continuing claims reached 1.805 million against a forecast of 1.820 million.

Spot gold last traded at $4,022.95 per ounce, down 0.93% on the day.