Gold prices surged above the $4,500 mark on Thursday morning as weaker-than-expected labor market data fueled new demand for safe-haven assets.
The disappointing jobless claims report from the U.S. Department of Labor immediately pushed investors toward precious metals, reflecting growing unease about the state of the American economy.
The latest figures showed that initial claims for unemployment benefits rose to a seasonally adjusted 225,000 for the week ending May 30.
Economists had anticipated just 213,000 claims, meaning the labor picture was notably ...
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