Gold nears $3,900 as U.S. jobless claims top forecasts

The Labor Department said the previous week’s initial claims figure was revised to 191,000. The four-week moving average, which smooths weekly volatility, stood at 195,250, above expectations of 192,500 and unchanged from the previous week’s revised level.

Continuing claims, covering people already receiving unemployment benefits, totaled 1.697 million for the week ending October 31. That was below the forecast of 1.710 million and the previous week’s revised 1.717 million.