Gold slips as US jobless claims hit three-month low

The yellow metal struggled throughout the European session, retreating to $4,076 an ounce—a 1.5% decline for the day. While prices managed a modest recovery from earlier session lows, the market remains burdened by the prospect of a robust economy that complicates the outlook for monetary policy. The Labor Department’s latest report also included an upward revision to the previous week’s data, which now stands at 200,000. By pushing claims to their lowest level since late July, the labor market data reinforces a trend that continues to keep investors cautious, limiting gold's appeal as a safe-haven asset in the current trading environment.