Russia refused to back off from its position in Ukraine as the country's military troops strengthened their hold in Ukraine's Crimea region, worsening the conflict between the two nations.
Holdings in the biggest gold -backed exchange-traded product, SPDR Gold Trust held at the highest this year, signaling robust investment demand for the bullion.
Gold futures for April 2014 contract, at MCX, is trading at Rs. 30,438 per 10 grams, up by 0.63 per cent, after opening at Rs. 30,280, against the previous closing price of Rs 30,247. It touched an intra-day high of Rs 30,455. (At 10:54 AM).