Gold up as tensions rise in Ukraine

investment on the back of expectations for strengthening US growth held gains in check.



Gold rose above $1,290 an ounce on Monday as simmering tensions in Ukraine and a weaker dollar lent support, but a lack of investment on the back of expectations for strengthening US growth held gains in check.

A stand-off between Russia and the West over Ukraine has helped lift gold prices from April’s 2-1/2 month lows, but the metal has struggled to extend gains above $1,300 an ounce.

Spot gold was up 0.4 per cent at $1,294.16 an ounce at 0952 GMT, while US gold futures for June delivery were up $6.80 an ounce at $1,294.40.


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