Gold price ticks up as U.S. weekly jobless claims total 385,000 as expected

(Kitco News) The initial weekly jobless claims fell by another 14,0000 to 385,000 in the week to Saturday, largely meeting market expectations.

Economists' consensus called for initial claims to come in at 384,000 following the revised level of 399,000 reported in the previous week. 

The four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it flattens week-to-week volatility – decreased to 394,000, from last week’s revised average of 394,250, the U.S. Labor Department said on Thursday.