Gold price anchored at $1,800

The gold market remain anchored around $1,800 an ounce following stronger than expected labor market data as fewer American workers applied for initial unemployment benefits last week.

Thursday, the U.S. Labor Department said that weekly jobless claims fell by 23,000 to 238,000, down from previous week's revised estimate of 261,000 claims.

The data was better than expected with consensus forecasts calling for claims around 245,000.

The latest employment data creating a little selling pressure gold prices. April gold futures last traded at $1,804.20 an ounce, down 0.32% on the day.