Gold prices buoyed by tariff fears; US duties on 1-kilo bars spur supply concerns
Investing.com - The number of Americans filing for first-time unemployment benefits rose in line with expectations last week, but remained largely range-bound despite ongoing worries over tariff-fueled economic uncertainty.
Seasonally-adjusted U.S. jobless claims climbed to 222,000 in the week ended on April 19, up from 216,000 in the prior week. Economists had predicted a reading of 222,000.
The four-week moving average, which aims to account for volatility in the weekly data, came in at 220,250, slightly below the previous reading of 221,000.
Last week, the figure touched a two-month low, suggesting that labor market conditions have been largely stable this month, even as businesses signal that they may be more reticent to spend on hiring against a murky economic backdrop.
Economists have warned that higher tariffs introduced by U.S. President Donald Trump could spark inflationary pressures and weigh on economic activity, while many companies have flagged that the uncertain impact of the levies is making it difficult to set investment plans.
Federal Reserve Chair Jerome Powell has acknowledged the increased uncertainty around the on-and-off tariffs, adding that early indications appear to point to an economic slowdown in the first quarter.
Earlier this month, Trump roiled financial markets after he announced sweeping new tariffs on most countries. He later delayed these measures for 90 days, although 10% universal duties and levies on products like steel, aluminum and autos remain in effect.