Gold Still Softer After U.S. Jobless Claims Rise 11,000 To 222,000
Thursday, 17 May 2018 19:57 WIB |
PRECIOUS METALS |GOLDEMASEmas berjangka
Gold remained on the defensive after Labor Department data Thursday showed that initial weekly U.S. jobless claims rose by 11,000 to a seasonally adjusted 222,000 in the week to Saturday.
As of 8:37 a.m. EDT, Comex June gold was trading down by $3.30 for the day to $1,288.20 an ounce. Four minutes ahead of the report, the metal was at $1,287.50.
Consensus expectations compiled by various news organizations had called for initial claims to be around 215,000. The government left the prior week™s tally unrevised at the previously reported 211,000.
Gold came into the New York trading session on the defensive in response to a stronger U.S. dollar as Treasury yields keep rising, analysts said.
Source: Kitco News