US weekly jobless claims fall to 232,000, gold price near six-week lows

US weekly jobless claims fall to 232,000, gold price near six-week lows
US weekly jobless claims fall to 232,000, gold price near six-week lows

(Kitco News) Weekly initial jobless claims fell 5,000 to 232,000 in the week to Saturday, surprising markets slightly with a contraction.

Consensus calls from economists expect initial claims to rise to 248,000 after the revised level of 237,000 reported the previous week.

The four-week moving average of new claims – often seen as a more reliable measure of the labor market since it flattens week-to-week volatility – fell to 241,500. last week was revised down to 245,500, the US Department of Labor said on Thursday.

Continuing unemployment claims, which represent the number of people already receiving benefits, were 1,438,000 in the week ending August 20, an increase of 26,000 from the previous week’s revised level of 1 412,000.
The four-week moving average rose to 1,428,500, an increase of 4,500. And the previous week’s four-week moving average was revised down from 750 to 1,424,000.

Traders are watching the unemployment insurance claims data very closely to gauge its impact on the Federal Reserve’s employment side of the monetary policy mandate.

Gold plunged after the data release. December Comex gold futures were last near six-week lows, trading at $1,706.90, down 1.12% on the day.

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The article is in French

. weekly registrations unemployment in US drop price gold close to lows weeks

. weekly jobless claims fall gold price sixweek lows

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