Gold futures edged higher on Monday with investors seeking the safe haven of the metal due to concerns over the unrest in Ukraine, where pro-Russian separatists claimed victory in a secession referendum. Further, expectations that India may soon ease restrictions on gold imports too supported the precious metal price, though lack of strong physical demand of gold limited the gains.
Gold futures for June delivery settled up $8.20 at $1,295.80 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 0.6 percent at $1,295.95 an ounce.
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