Gold Climbs to $4,370/oz as US Jobless Claims Fall to 196k

Gold prices climbed to fresh session highs on Thursday after stronger-than-expected US labor market figures. The Labor Department reported initial unemployment claims at 196,000 for the week ending September 12, below the 208,000 consensus forecast. The prior week stood at 206,000.

The four-week moving average reached 203,250 versus expectations of 206,000. Continuing claims totaled 1.730 million, under the anticipated 1.780 million.

Spot gold last traded at $4,370.58 per ounce, up 2.50% on the day following the data release.