Singapore: Gold was trading near its highest in three weeks on Tuesday, holding gains from the last two sessions as more intense fighting in Ukraine lifted the metal's safe-haven appeal, gold prices during Ukraine tensions
Fundamentals
Spot gold rose 0.1 per cent to $1,310.70 an ounce, after gaining 2 per cent over the last two sessions. On Monday, gold climbed to $1,315.60, its highest since April 15, before paring some gains.
Pro-Russian rebels shot down a Ukrainian helicopter in fierce fighting near the eastern town of Slaviansk on Monday, and Kiev drafted police special forces to the southwestern port city of Odessa to halt a feared westward spread of rebellion.
Gold Corp Inc has resumed operations at its Los Filos mine in Mexico after reaching a new five-year occupancy agreement with local landowners.
South Africa's Association of Mineworkers and Construction Union (AMCU) said its striking members had rejected the latest wage offer by the world's three biggest platinum mining companies.
Jacob Zuma, South African President has accused the AMCU union of irresponsibility for dragging out the platinum strike for almost four months, saying there was a risk of workers losing their jobs because of the dispute.
