Kitco
28 May 2026, 12:52 UTC · 2h ago
Source · https://www.kitco.com/news/article/2026-05-28/spot-gold-struggles-reclaim-4400oz-after-us-weekly-jobless-claims-rise-215k
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U.S. initial jobless claims for the week ending May 23 rose to 215,000, exceeding the consensus forecast of 211,000. — Higher-than-expected unemployment claims suggest a softening labor market, which typically puts downward pressure on risk assets and may influence Fed rate expectations.
-0.30Continuing jobless claims rose to 1.786 million, surpassing the market expectation of 1.780 million. — Increased continuing claims indicate a more difficult environment for the unemployed to find new work, further signaling labor market weakness.
-0.20Spot gold prices dropped 1.28% on the daily chart, struggling to reclaim the $4,400 per ounce level. — The price drop reflects immediate market volatility and a failure to hold a key psychological support level despite weak economic data.
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