Spot Gold Reaches $4,250/oz as U.S. Jobless Claims Dip to 226k

Gold prices bounced back from recent lows on Thursday morning after steady U.S. labor market data. New unemployment claims came in close to forecasts. Initial claims totaled 226,000 for the week ending June 13 versus an expected 225,000, with the prior reading revised to 230,000. The four-week moving average reached 223,250 against a forecast of 223,000. Continuing claims rose to 1.810 million compared with expectations of 1.800 million. Spot gold hit a low of $4,240.07 before trading at $4,250.42 per ounce, down 0.17% on the day.