Gold rose above $1,300 an ounce on Monday as US equities slipped and political tensions simmered after the shooting down of a passenger plane in eastern Ukraine last week and incessant fighting in Gaza. Spot gold was up 0.2 percent at $1,312.50 an ounce by 1:51 pm (1751 GMT).
US COMEX gold futures for August delivery settled up $4.50 at $1,313.90 an ounce, with trading volume about 35 percent below its 30-day average, preliminary Reuters data showed. In other precious metals, platinum was up 0.1 percent at $1,483.10 an ounce. Palladium eased 0.3 percent to $873.94 an ounce after initially rising on possible supply worries out of top producer Russia. Silver rose 0.4 percent to $20.92 an ounce.
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