Gold turns negative

01.04.2015 / 12:46

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Gold prices fell into losses as the US dollar made a strong comeback during the European session.

The USD index recovered from the low of 98.30 to trade at 98.87 levels, as the EUR/USD pair and the GBP/USD fell sharply. Despite the upbeat PMU numbers in the Eurozone and the UK, their respective currencies weakened against the USD. Consequently, a strong USD led to weakness in Gold prices.

Meanwhile, the major European equities rallied, contradicting the early indications given by the futures before the opening bell. The uptick in the equities further weighed over the yellow metal.

Current levels at 1181.60

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Gold turns negative

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