Gold Slips Near Session Low Amid Surprise Jobless Claims

Gold prices are edging closer to their session low of $4,450 per ounce on Thursday morning following the release of better-than-expected labor market data. The number of Americans filing new claims for unemployment benefits came in below economists' forecasts at 206,000 for the week ending August 15.

Initial claims were revised from 209,000 to 212,000 in the previous week, and the four-week moving average for new claims was 204,000. Continuing jobless claims, representing people already receiving benefits, were at 1.799 million during the week ending August 8.

Spot gold last traded at $4,454.74 per ounce for a loss of 1.51% on the daily chart, coinciding with the release of the Philly Fed index and labor market data.