All articles tagged with #weekly jobless claims
Gold prices remain near support levels as U.S. weekly jobless claims hold steady at 207,000, slightly below expectations. The labor market continues to attract attention as it could impact the Federal Reserve's monetary policy stance. The gold market is weighed down by elevated bond yields, with the 10-year note trading near a 16-year high.
US retail sales unexpectedly rose by 0.3% in May, driven by increased purchases of motor vehicles and other goods, while weekly jobless claims remained steady at 262,000. Despite inflation and higher interest rates, consumer spending has remained resilient thanks to strong wage gains resulting from a tight labor market. However, rising layoffs could hamper consumer spending later in the year. The Federal Reserve kept interest rates unchanged on Wednesday, but still anticipated rate increases later this year.