Gold Turns Lower After Weekly Jobless Claims Fall

Core Insights - The U.S. stock market, specifically the S&P 500, has experienced a decline for three consecutive sessions [1] - A decrease in weekly jobless claims to 218,000 from 232,000 has alleviated concerns regarding the job market [2] - This drop in jobless claims has negatively impacted gold futures, which are down 0.1% to approximately $3,763 per troy ounce [2] Market Reactions - The positive shift in the job market data has reduced the demand for safe-haven assets, leading to a stronger U.S. dollar index [2] - Silver prices have seen a slight increase of 1.3%, reaching $44.79 per troy ounce, despite earlier gains being pared back [2]