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Gold strengthens in EUR terms

FXStreet (Mumbai) - Gold prices strengthened in EUR terms on Tuesday as the single currency fell on falling bond yields and Greece issue.

Trades above 5-DMA

The yellow metal gained strength in the early European session to trade above its 5-DMA located at EUR 1115.50/Oz. Moreover, the metal has strengthened ahead of the Zew survey data which is expected to show an improvement in the economic sentiment in Germany and across the Eurozone.

At the moment, the metal is trading at EUR 1118.40/Oz, up 0.43% for the day. Apart from the Zew survey data, the metal could be influenced by the weakness in the core Eurozone bong yields.

Gold (EUR) technical Levels

The immediate resistance is located at 1123.96 (10-DMA), above which gains could be extended to 1130.00 levels. On the flip side, a break below 1115.50 (5-DMA) could drive the prices lower to 1097.73 (50-DMA).

GBP/USD hits fresh session lows below 1.4860

GBP/USD drops to fresh session lows in the European morning, bouncing-off stiff resistance at 1.4910 levels largely on the back of fresh demand for the US dollar while UK’s elections uncertainty continue to be a drag on the pound.
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