Gold prices hold gains as U.S. weekly jobless claims rise for third straight week

(Kitco News) - The U.S. labor market is losing more momentum as more American workers than expected apply for first-time unemployment benefits for the third consecutive week.

The gold, while off its lows it, is seeing little rection to the disappointing labor market data.

Thursday the U.S. Labor Department said that weekly jobless claims rose by 11,000 to 362,000, up from the previous week's unrevised estimate of 351,000 claims.