Gold Steady After US Jobless Claims Rise

15,000 to a seasonally adjusted 258,000 in the week to Saturday.

Claims topped consensus expectations compiled by various news organizations, which had called for the figure to be around 239,000 to 240,000. The government revised the prior week’s tally to 243,000 claims from the previously reported 241,000.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it smoothens out week-to-week volatility – was up by 1,000 claims to 240,000.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, decreased by 39,000 to a seasonally adjusted 2 million during the week ending March 11, the government said. The four-week moving average fell by 32,000 to 2,026,750.

via Kitco

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