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Gold at day’s high

FXStreet (Mumbai) - Gold is trading at a day’s high, taking cues from the risk aversion in the European equity markets. Gold traded 0.51% up at 1218.60 at the time of writing.

Meanwhile, risk aversion ahead of the US Federal Reserve (Fed) minutes has led to a fall in European equities. The Dax and the Ftse are trading down by 0.94% and 0.61% respectively. The rest of the Europe hardly shows any signs of strength.

The US Equity futures too, have dipped into the red along with the decline in the treasury yields. The US Dollar Index trades largely unchanged at 85.80 providing support to the yellow metal.

Gold technical levels

Gold has a support of USD 1215, below which prices can fall to 1207 and 1202. The resistance is located at 1222.

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