The number of Americans filing for first-time applicants fell last week, and gold prices fell slowly during the day
On this trading day, international spot gold maintained a slow pace above the $1,910/ounce line, and the price of gold remained adjusted within the range during the day. At 10:26 Beijing time, gold was temporarily trading at $1,915.10/ounce.
The number of initial jobless claims in the United States fell by 10,000 last week
On Thursday evening, Beijing time, data released by the U.S. Department of Labor showed that the number of initial claims for unemployment benefits fell by 10,000 to 230,000 last week, which was lower than the revised estimate of 240,000 the previous week. Economists had previously expected the number of initial jobless claims to stabilize at around 239,000. This means the latest labor market data was better than expected.
Financial website Forexlive believes that the U.S. Bureau of Labor Statistics can and should adjust their graphs of initial jobless claims and continuing jobless claims. These data suggest that the job market is not weakening. While GDP is lower than a year ago and inflation is also lower, the U.S. unemployment rate is exactly the same as a year ago at 3.5% and is near record lows.
The market is currently looking for clues as to whether the Federal Reserve will further raise interest rates. However, analysis points out that a strong labor market will at best allow the Federal Reserve to remain on hold for a longer period of time. If inflation rises, it may also lead to an increase in interest rates.
Gold last night gave 1911-10 support to stabilize and continue its bullish rebound. Today it was just at the lowest point, and the highest rose to 1923.3, taking another wave; Using 1910 as a defense, if it holds on, it will maintain a more volatile rebound. Once it reaches 1923-1924, it will test 1930-1933 and 1940 and above; The current node support moves up to 1903. If it breaks down again here, there may be a demand for a second bottom. On the contrary, if it holds above 1903, it will maintain a shock rebound correction. Before it breaks through the upper rail resistance of the daily short-term downward channel 1940-1945, it is not ruled out that one day it will be under pressure and conduct a second dip. After reaching a sub-low and stabilizing, a second upward attack can pull up more strongly, and then gradually reverse and return to a strong bull position.
