US Jobless Claims Fall to Lowest since Pandemic
The number of first-time jobless claims in
the United States fell to 684,000 last week, which was lower than market
expectations of 730,000 and a weekly decrease of 97,000. During the period, the
number of people who continued to claim unemployment benefits decreased by
264,000 to 3.87 million on a weekly basis, which was lower than market
expectations of 4.043 million. The data may reflect that as the new crown
epidemic eases and vaccinations become more widespread, corporate layoffs have
begun to decrease.
Gold Price Rebound is Restricted
The price of gold rebounded from the low
point, while keeping the recent trading range unchanged. It is currently
oscillating below $1,730. The number of initial jobless claims in the United
States last week and the final value of the actual GDP annualized quarterly
rate in the fourth quarter of the United States both performed better than expected.
As the US data showed optimism, the US dollar gained support and refreshed a
four-month high to 92.86 US dollars. Coupled with the background that US
Treasury yields have also stabilized, gold prices have recorded their lowest
levels since March 18. The above factors have prompted the US dollar to
continue to rise, while U.S. debt has turned stronger and higher, continuously
suppressing the rise of gold. However, the European epidemic is still slow to
alleviate. In the dilemma of the number of confirmed people and the shortage of
vaccine supply, it can still provide support for the gold price. As of 08:29
Hong Kong time, the price of gold has risen by 0.06% to US$1,727.70.
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