Gold held near its highest in four weeks on Monday after rising almost 1 percent in the previous session, buoyed as geopolitical tensions boosted its safe-haven appeal.
FUNDAMENTALS
* Spot gold was flat at $1,266.40 per ounce at 0044 GMT. On Friday, it climbed 0.9 percent to touch its strongest since May 1 at $1,269.50.
* U.S. gold futures slipped 0.1 percent to $1,266.4 an ounce.
* The U.S. economy slowed less than initially thought in the first quarter, but softening business investment and moderate consumer spending are clouding expectations of a sharp acceleration in the second quarter.
* Heavy rains and a cyclone led to an 8 percent, or 6-tonne drop in Australian gold production in the first quarter, a survey released on Sunday showed.
* Gold demand in Asia tapered off this week as buyers took to the sidelines in India to await a new national tax policy and as China entered a seasonal slowdown.
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