(Kitco News) – Gold prices continued to consolidate above $3,650 an ounce even as fewer Americans than expected applied for first-time unemployment benefits, recovering slightly from the previous week’s two-year high.Initial claims for state unemployment benefits dropped by 33,000 to a seasonally adjusted 231,000 for the week ending Sept. 13, the Labor Department announced on Thursday. The number significantly beat expectations, as consensus estimates forecasted a reading of 241,000 claims. The previous week’s figure was revised up to 264,000.
