Gold Holds Steady Amid Consistent U.S. Labor Market

The U.S. labor market demonstrates resilience despite persistent inflationary pressures. Initial unemployment claims totaled 199,000 for the week ending October 10, aligning with forecasts, while the prior figure was revised to 198,000.

This data has minimal effect on gold prices, which hold overnight gains above $4,100 per ounce. Spot gold currently stands at $4,151.30, marking a daily rise of more than 1%.

The four-week moving average of new claims reached 198,500, edging above the expected 198,000 and the previous revised level of 198,250.