Gold futures remain near 3-week highs in risk-off trad

Gold futures remained near three-week highs on Monday, as concerns over mounting tensions in Ukraine continued to support demand for the safe-haven asset.

On the Comex division of the New York Mercantile Exchange, gold for June delivery traded at $1,322.10 a troy ounce during European afternoon trade, up 0.24%.

The June contract settled 0.11% lower on Friday to end at $1,319.0 a troy ounce.

Gold futures were likely to find support at $1,311.20 a troy ounce, the low from April 10 and resistance at $1,334.90, the high from March 24.

Tensions between Russia and Ukraine mounted on Monday as a deadline set by Ukraine for pro-Russian separatists to leave government buildings they are occupying in eastern Ukraine expired.

The U.S. has indicated that it is prepared to impose more sanctions against Moscow if Russian encroachments in eastern Ukraine continue.

The United Nations Security Council kicked off an emergency meeting early on Monday to discuss the crisis.

Elsewhere on the Comex, silver for May delivery tumbled 1.09% to trade at $19.728 a troy ounce, while copper for May delivery rose 0.22% to trade at $3.048 a pound.