Gold, silver rise as jobless claims temper PCE-driven Fed repricing - Kitco AM Report - Kitco
Gold, silver rise as jobless claims temper PCE-driven Fed repricing - Kitco AM Report - Kitco
Source: Kitco
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DW NOTE
Jobless claims rose to 225,000 from 219,000 the previous week — still near historic lows — and traders decided this meant the Fed might pause tightening. Gold climbed 0.8% to $4,181 and silver rose 1.2% to $60.47, both still down sharply from their peaks this year. The Fed raised rates in September for the first time and the market is pricing a 70% chance of another hike, but a 2.7% uptick in unemployment filings was enough to spark relief buying in metals that have already fallen 21% and 48% respectively.