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14 Jan 2015
Gold declines in EUR terms
FXStreet (Mumbai) - Gold prices eased in EUR terms despite the European Central Bank (ECB) president indicating the bank’s readiness to buy sovereign bonds.
Gold in EUR terms of XAU/EUR pair traded 0.43% lower today at 1041.05/Oz levels at the time of writing, compared to the previous session’s close at 1047.05/Oz levels. The metal declined despite losses in the European equity market, coupled with every increasing possibility of ECB announcing sovereign QE on Jan. 22. Moreover, the EUR/USD pair has gained 0.17%, which capped gains in the yellow metal. Still, Gold prices in EUR terms have been able to outperform Gold in USD terms, which is down 0.52%.
Gold (EUR) Technical Levels
The immediate support is seen at 1040.80, under which losses could be extended to 1032.17 levels. Meanwhile, resistance is seen at 1048.43 and 1054.71 levels.
Gold in EUR terms of XAU/EUR pair traded 0.43% lower today at 1041.05/Oz levels at the time of writing, compared to the previous session’s close at 1047.05/Oz levels. The metal declined despite losses in the European equity market, coupled with every increasing possibility of ECB announcing sovereign QE on Jan. 22. Moreover, the EUR/USD pair has gained 0.17%, which capped gains in the yellow metal. Still, Gold prices in EUR terms have been able to outperform Gold in USD terms, which is down 0.52%.
Gold (EUR) Technical Levels
The immediate support is seen at 1040.80, under which losses could be extended to 1032.17 levels. Meanwhile, resistance is seen at 1048.43 and 1054.71 levels.