Gold holding its ground as U.S. labor market remains steady

(Kitco News) - Although persistent inflation remains a dominant force in the economy, its effects on the labor market remain muted, as the number of American workers applying for first-time unemployment benefits remains stable.Initial claims for state unemployment benefits came in at a seasonally adjusted 199,000 for the week ending October 10, the Labor Department announced Thursday. The number was in line with consensus estimates. The previous week’s figure was revised down to 198,000.