Gold at 1-1/2 week high on safe-haven bids on Ukraine

Singapore (Apr 28)  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.
   
FUNDAMENTALS
 * 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.
 * Hedge funds and money managers raised their bullish bets in gold and silver futures and options, their first increase in
five weeks, as renewed geopolitical tensions boosted the metal's appeal as a hedge, according to data from the Commodity Futures
Trading Commission on Friday.
* Deutsche Bank may end up resigning its seat on the London gold fix rather than selling it as U.S. lawsuits alleging price
rigging against the five banks that set the benchmark deter potential buyers, industry sources said.
* Gold premiums in India, the world's second biggest consumer after China, jumped to their highest level in more than
two-and-a-half months due to short supplies amid firm demand
ahead of the second-biggest gold buying festival.
* The end game to South Africa's platinum strike is drawing near after the producers said they would take their latest wage
offer directly to employees after marathon wage talks to end the
13-week strike collapsed last week.

 MARKET NEWS
* Asian shares began the week under a cloud on Monday, after a dismal week on Wall Street and against the backdrop of
increasing tension in Ukraine.