• Gold prices inched up on Monday on safe-haven demand ahead of elections in Europe, moving further away from 5-week lows touched late last week in expectation of an imminent rise in U.S. interest rates.
• Spot gold had climbed 0.2 percent to $1,206.53 per ounce by 0330 GMT. It fell to its weakest since Jan. 31 at $1,194.55 on Friday.
• "Gold should find some safe-haven bids at these levels this week as the Dutch election became more fraught over the weekend," said Jeffrey Halley, senior market analyst at OANDA.
• Worries surround this week's parliamentary election in the Netherlands, which faces political disarray as mainstream parties struggle to forge a viable coalition.
• "The Street (is) pricing in a 100-percent chance of a rate hike," said OANDA's Halley.
• Hedge funds and money managers slashed their net long position in COMEX gold from the highest in 3 months in the week to March 7, and cut it slightly in silver, U.S. Commodity Futures Trading Commission data showed on Friday.
• Silver rose 0.1 percent to $17.06 an ounce on Monday, after falling to its lowest since Jan. 27 at $16.78 late last week.
Reference: Reuters
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