Spot Gold Reclaims $4500 Mark as U.S. Jobless Claims Climb to 225k

Gold prices stayed above the $4500 per ounce threshold on Thursday after softer U.S. labor market data emerged. Initial unemployment claims for the week ending May 30 totaled 225000, beating forecasts of 213000, while the prior reading was revised to 212000. The four-week moving average of new claims reached 214750 against an expected 208000. Continuing claims came in at 1.777 million, marginally below projections. Spot gold touched a high near $4515 at 8:00 am ET before last trading at $4500.85, for a 1.49% daily gain.