Gold Holds Above $4,100 as Labor Market Strength Weighs on Prices - IndexBox

AI desk brief

Spot gold was quoted at $4,120.60 an ounce, up 1.5% on the day but below session highs, showing little immediate reaction to stronger U.S. jobless-claims data. Initial claims fell 6,000 to 189,000 in the week ended October 31, versus expectations of 197,000, reaching their lowest since late July. The report argues labor-market strength leaves room for a December Fed rate increase, which could pressure gold if it raises expected real yields. Friday’s nonfarm payrolls release was identified as the next test, with 65,000 jobs expected; the source does not specify the year.