Gold up to $1306 but Fund Outflows Continue

Gold was trading near a one-week high on Monday, retaining sharp gains from the previous session, as heightened tensions and violence in Ukraine burnished the metal’s safe-haven appeal.

However, further outflows from the top gold fund indicated that the gains could be short-lived.  Spot gold was flat at $1,300.33 an ounce by 0032 GMT, after gaining 1.3 percent on Friday.

Pro-Russian militants stormed a Ukrainian police station in Odessa on Sunday and freed nearly 70 fellow activists as the country’s leaders lamented a police force they said was widely undermined by graft or collaboration with separatists.


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