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Gold Rises Over 1% After Four Consecutive Losses


Gold prices climbed on Thursday after four consecutive sessions of losses, buoyed by a stabilizing dollar against major currencies and a rebound in stock markets.


Official US data revealed that unemployment claims dropped by 17,000 to 233,000 last week, surpassing the expected 240,000.


Previous data showed that the US economy added 114,000 jobs last month, a significant slowdown from the 179,000 added the previous month, with the unemployment rate increasing from 4.1% to 4.3%.


This earlier data sparked widespread concerns about a potential recession in the US economy.


The dollar index held steady at 103.2 as of 21:26 GMT, reaching a session high of 103.5 and a low of 102.9.


In the markets, gold spot prices increased by 1.4% to $2,465 an ounce as of 21:26 GMT.

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