According to CoinMeta, the U.S. Department of Labor announced that as of the week ending October 24, the number of initial jobless claims, after seasonal adjustment, was 194,000, slightly better than the market's expectation of 198,000. This is the sixth consecutive week that the number of initial jobless claims has remained below 200,000, marking the longest such period since January 2023. Analysts pointed out that a relatively strong labor market may continue to put pressure on gold and leave room for the Federal Reserve to raise interest rates in December. Later on Wednesday, the Federal Reserve announced that it would keep interest rates unchanged and signaled that it would continue to focus on bringing inflation back to its 2% target. Since then, the gold market has struggled to attract buyers.