After the European Central Bank announced that the interest rates will not fluctuate and will hold positions at 1.0%, Gold saw a little variation in Europe, today.

On Wednesday the gold traded at spot bid of $1,138.55 an ounce in the first half, compared to a $1,139.35 late in New York.

Further the yellow metal inclined to $1,144.60 an ounce on the same day, which is expected to be its best level since Jan. 15. After the dollar staggered more, adding to the woes over the stability of the euro zone, if it has the metal to buy Gold with a pinch of inclination.

However the pull back effect in the currency is putting pressure on Gold taking away the treat from its smooth landing. There euro zone is still dizzy, especially with the Portugal austerity plan.

The doubts over the numbers of euro zone economies has been the worst fear factor tending the push on single currency by5 percent viz-a-viz the dollar till date.

Euro faced the heat of the lost battle after Greece's sale of 10-year bonds churned out extensive demand. Although the ECB may plan to withdrew from its emergency lending after holding interest rates at a low of 1.0 percent on Thursday.

Gold is following the oil prices, as the yellow metal can be hedged against oil-led inflation.