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Gold trades marginally weak

FXStreet (Mumbai) - Gold prices have weakened marginally ahead of the US opening, although not much activity is seen since the investors prefer to stay on the sidelines ahead of the Federal Reserve (Fed) meet.

Gold is trading 0.16% lower for the day at USD 1227.50/Oz levels. Moreover, prices remained consolidated in a narrow range of 1227-1230 through the entire European session today. The US Equity futures are trading marginally in the red, despite the strength in the major European equity indices. Meanwhile, the ten-year treasury yields have inched higher to 2.293%, which may have weakened the Gold prices.

Gold Technical levels

The metal is trading in a narrow range of 1227-1230, breach of which shall open doors for 1233 levels or 1224 levels depending on which direction the prices break out.

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