Gold Back Above $1300 on Save Haven Bets

Gold climbed to its highest in 1-1/2 weeks on Monday, as weaker equities and escalating geopolitical tensions in Ukraine boosted the metal’s safe-haven appeal.  Spot gold rose 0.06 percent to $1,303.60 an ounce by 0024 GMT, after earlier hitting $1,305.11 – its highest since April 16.

Pro-Russian rebels paraded European monitors they are holding in eastern Ukraine, freeing one but saying they had no plans to release another seven as the United States and Europe prepared new sanctions against Moscow.

U.S. President Barack Obama called for the United States and Europe to join forces to impose stronger measures to restrain Moscow.


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