Spot gold was little changed at USD 1,304.01 an ounce, after dipping 0.2% in the previous session. U.S. gold was also flat at USD 1,304.80.

Gold was holding its ground above USD 1,300 an ounce on Thursday as violence deepened in the Middle East over the Gaza strip and as holdings in the top bullion-backed fund rose on safe-haven bids. Tensions remained high between Russia and the West over Ukraine.

Emkay Commodity Research expects gold prices to move in a range to down for the day over its fading safe haven appeal and poor physical demand.

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