Gold Futures Steady Near 1-Month Highs Amid Safe Haven Demand

Gold Prices Soared up on Ukraine Crisis, Bearish Data out of U.S. Jobs Report

Gold futures prices were flat after hitting four new weeks in European trade on Tuesday as European geopolitical concerns reduced risk appetite, boosting demand for safe haven for precious metals.

Comex gold futures dipped 86 cents, or 0.07%, to $1,267.51 a troy ounce after rising to $1,270.32 earlier, the highest since May 1.

Meanwhile, Spot gold had risen 0.1 per cent to $1,267.30 per ounce. It earlier touched its strongest since May 1 at $1,270.47.

Concerns about the Greek rescue package, as well as British polls suggest that the Conservative Party Prime Minister Teresa Mai has less of a lead on the Labor Party expected risk swoop.

Gold is used as an alternative investment in times of political and financial uncertainty.

Fears that Athens and its creditors may not come to an agreement on a financial bailout program put in place overnight, leading to fears that the debt crisis in the euro zone may rise again.

At the same time, the tightening of elections in the UK has added to fears about the political risks surrounding Riksitt.

Gold gains have been achieved in a check with the rise of the dollar against the euro and the pound.

The dollar index, which measures the strength of the dollar versus a basket of six major currencies, rose 0.33% to 97.65, extending from a six-and-a-half-month low last week.

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