MacDonald earned himself a shot at gold after coming from behind on the scorecards to win a narrow split decision over Italian Federico Serra but fell short in the final against a tricky customer in Molina.
The slick Spaniard dominated the judges' scorecards for a unanimous decision in the Armenian capital to clinch gold with the 25-year-old Wearsider having to settle for his second EUBC silver medal having achieved the same as a youth back in 2019.
MacDonald, who lost in the preliminary round of October’s World Championships in Belgrade, made a fast start to the three round bout with both fighters meeting head on in the centre of the ring landing blows.
But as the round progressed, the Spaniard who was contesting his 124th recorded fight, showed his ability, particularly in defence, when catching the North East man.
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It was enough for Molina who edged the opening round before the 27-year-old put his foot on the accelerator in the second round tagging MacDonald early with a right hand leaving the Wearsider with plenty to do.
The Spaniard cleverly evaded much of MacDonald’s offence only to land combinations of his own to impress the judges and take the round convincingly.
But MacDonald showed plenty of desire in the final round as he proceeded to take the fight to Molina as he continues to progress on the world and European stage.
Again though, Molina showed his class with a fine combination to the head in the closing stages to cement a unanimous points decision from the judges to take gold.
Speaking ahead of the contest MacDonald admitted his delight in reaching the final and he can be pleased with his efforts as he continues on the Olympic cycle towards Paris in 2024.
“This is where the hard work in Sheffield pays off,” said MacDonald following his semi-final success.
“The coaches told me to believe in myself and do what you’ve been doing in the gym, and it worked out perfectly.
“It means the absolute world. My first major European championship and I’m in the final – it’s what I’m here for.”