Spot gold was trading steady at $1,294.30 an ounce by 0656 GMT and was headed for a flat week.
Gold has been trapped in a very compressed range for well over a month, but we suspect that we could see a substantial move in the days ahead once the Ukrainian elections are over,” INTL FCStone said in a note.
Ukraine said more than a dozen servicemen were killed on Thursday in an early morning clash with pro-Russian separatists, fuelling security concerns ahead of a presidential election on Sunday seen as crucial for its fragile democracy.
Gold, seen as a safe-haven asset, has been buoyed by rising tensions between the West and Russia over Ukraine, gaining about 7 percent this year. In the physical side, premiums in top buyer China remained steady at about $2 an ounce.
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