A haven from risk and back with a shine. Gold retreated slightly on Monday – spot gold XAU was down 0.3 percent at one thousand two hundred and seventy six dollars and ten cents an ounce, but prices generally remained near four-month highs.<br /><br /> A market rout after Switzerland unexpectedly abandoned a cap on the franc last week triggered strong bids for gold which is often seen as an alternative to risky assets.<br /><br /> “Gold is going the right way to reach one thousand three hundred dollars and if we can reach that we can go much higher,” said one analyst.<br /><br /> The market is braced for further volatility in a critical week for the eurozone traders have predicted.
