Gold was trading near its highest in two weeks on Wednesday, bolstered by signs of increasing demand in China and as rising tensions over Ukraine burnished its safe-haven appeal. But investors continued to pull money out of gold-backed exchange-traded funds, raising the risk that price gains could be short lived. Spot gold had risen 0.2 percent to $1,311.10 an ounce by 0646 GMT, after gaining 0.9 percent in the previous session. The metal hit a two-week high of $1,314.43 on Tuesday.