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13 Apr 2015
Gold outperforms in EUR terms
FXStreet (Mumbai) - Gold prices remained resilient in the EUR terms as opposed to a 0.4% declined in the USD terms.
Supported by Greek issue
Prices found support after German newspaper Bilt reported a possibility of Greece witnessing re-elections this month. Experts believe the ruling party securing the majority in the re-elections could increase the possibility of Grexit. The EUR/USD pair tanked to fresh multi-year lows, thereby helping the yellow metal remain resilient in the EUR terms. In the meantime, a stronger US dollar pushed XAU/USD or Gold in the USD terms fell 0.38% to USD 1200/Oz levels.
Gold (EUR) Technical Levels
At the moment, gold prices are trading just 0.05% higher to USD 1139.80/Oz. The immediate resistance is seen at 1142.00, above which gains could be extended to 1168.55. On the flip side, a break below 1129.01, could send the prices lower to 1121.77.
Supported by Greek issue
Prices found support after German newspaper Bilt reported a possibility of Greece witnessing re-elections this month. Experts believe the ruling party securing the majority in the re-elections could increase the possibility of Grexit. The EUR/USD pair tanked to fresh multi-year lows, thereby helping the yellow metal remain resilient in the EUR terms. In the meantime, a stronger US dollar pushed XAU/USD or Gold in the USD terms fell 0.38% to USD 1200/Oz levels.
Gold (EUR) Technical Levels
At the moment, gold prices are trading just 0.05% higher to USD 1139.80/Oz. The immediate resistance is seen at 1142.00, above which gains could be extended to 1168.55. On the flip side, a break below 1129.01, could send the prices lower to 1121.77.