Gold held support above $4,000/oz but remained under pressure after firmer U.S.
labor data and hawkish Fed language. The Labor Department said seasonally
Adjusted initial jobless claims for the week ended Oct. 24 were 194,000, versus
198,000 expected — the sixth straight week below 200,000 and the longest run
since Jan. 2023. The Federal Reserve on Wednesday left rates unchanged and
reiterated its focus on returning inflation to 2%; analysts say a relatively
healthy labor market leaves scope for a December rate hike, curbing gold demand.
