CommoditiesMedium•22 October 2026•
1 min read
Gold Prices Under Pressure as US Jobless Claims Hit 3-Month Low
Key Facts
1US initial jobless claims fell to 194,000 for the week ending Oct. 17, coming in below the forecasted 200,000.
US initial jobless claims fell to 194,000 for the week ending October 17, 2026, coming in below the forecasted 200,000. Kitco reported that gold prices faced selling pressure and struggled to stay above $4,100 per ounce following the release of stronger-than-expected labor market data from the US Department of Labor.
The drop in weekly claims to a three-month low indicates a resilient labor market, which strengthens the dollar against gold. Alongside this data, figures recorded on October 22, 2026, showed the 4-week average of jobless claims at 197.75k, while continuing jobless claims reached 1,728k.