Gold Heads for Third Weekly Gain as Investors Weigh Demand, Jobs

Gold headed for a third straight weekly gain as investors assessed signs of a recovery in physical demand with optimism over the U.S. labor market. Gold shipments from Switzerland to India and China rose last month, indicating renewed buying by the top consumers after a year on the sidelines. Meanwhile, applications for U.S. state unemployment insurance unexpectedly plunged to a fresh pandemic low, signaling that the job market is strengthening, which weighed on demand for haven assets.

Source: BNN Bloomberg

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