By Francesca Freeman LONDON--Spot gold prices rose Monday to their highest levels in almost four months as economic and political uncertainty boosted the metal's appeal as a store of value. Spot gold was up 0.4% at $1,329.60 a troy ounce in morning European trade having earlier hit $1,332.18 an ounce, its highest since Oct. 31. Gold's strength reflects "the mounting caution from global markets, as the world grapples with weak data from the U.S., China's slowdown, emerging market uncertainty and political tensions in Ukraine and Thailand," said Howie Lee, an investment analyst at Phillip Futures. Many investors view gold as a traditional store of value at times of economic and political upheaval, due to its tendency to hold its value when other financial assets, such as stocks, fall. Ukraine's three-month crisis culminated in the parliament's appointment of a new leader Sunday after ousted president Viktor Yanukovych fled Kiev. In Thailand, three people were killed and dozens injured Sunday after a grenade was thrown into an area where anti-government protesters had been camping out in the capital, Bangkok. Asian stock markets also took a knock after Chinese local media reported a medium-sized bank has stopped lending to property developers. Analysts warned that gold's strength may be short-lived. "Buying has softened in China and remains subdued in India, and while exchange-traded inflows have reverted to net redemptions again, they have done so modestly," said Barclays analyst Suki Cooper. "Barring technical strength, gold strength looks set to be tested in forthcoming sessions." Other precious-metal prices were mixed Monday. In morning European trade, silver was down 0.04% at $21.810 an ounce, platinum was up 0.1% at $1,425.50 an ounce and palladium was down 0.2% at $737.80 an ounce.

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