Gold Prices Rally Past $4,100 Following Jobless Claims Data

The precious metal hit a session high of $4,120.16 shortly before the 8:30 am ET data release. It later settled at $4,112.10, marking a 0.86% gain on the day. Investors closely monitored the figures, as the previous week’s initial claims were revised upward to 217,000 from the initial 215,000 reading.

Broader indicators suggest a tightening labor environment. The four-week moving average for new claims landed at 218,750, underperforming the consensus forecast of 220,000. Additionally, continuing claims—the count of those currently collecting benefits—reached 1.814 million for the week ending June 27. This figure also came in below the 1.820 million estimate, reinforcing current market sentiment following the previous week's downward revision to 1.806 million.