Kitco
04 Jun 2026, 12:48 UTC · 3h ago
Spot gold reclaims $4,500/oz after U.S. weekly jobless claims rise to 225k
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Kitco
04 Jun 2026, 12:48 UTC · 3h ago
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U.S. initial unemployment claims rose to 225,000 for the week ending May 30, exceeding the consensus forecast of 213,000. — Higher-than-expected jobless claims signal labor market weakening, which can dampen economic growth expectations while increasing the likelihood of rate cuts.
-0.40Spot gold prices reclaimed $4,500 per ounce, rising 1.49% on the daily chart following the labor data release. — Gold typically gains as a safe-haven asset or a hedge against economic slowdowns and lower interest rate expectations.
+0.30The four-week moving average for new claims reached 214,750, surpassing the expected 208,000. — A higher moving average confirms a trend of labor market softening rather than a one-week anomaly.
-0.20Ticker attribution
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