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Gold consolidates around USD 1250

FXStreet (Mumbai) - Gold prices traded in the sideways manner during the European session after an early decline during the Asian session which saw prices plunge almost USD 10.

Gold currently trades 0.60% lower at USD 1152.80/Oz levels, compared to the previous session’s close of USD 1159.80 levels. The yellow metal remained under pressure since the major European equity indices posted modest gains on strong corporate earnings. Meanwhile, the US Dollar index trades lackluster around 88.00 levels, while the treasury markets in the US remain closed today.

Elsewhere, Gold in Eur terms or XAU/EUR is trading 0.21% higher at 928.76 levels.

Gold Technical levels

Gold has an immediate support at 1150, under which the prices can fall to 1145. Meanwhile, the metal may rise to 1161, if the immediate resistance at 1157 is breached.

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