Gold rose 1.6 per cent on Monday after a worse-than-expected US manufacturing report weighed on the dollar and global equities, while persisting concerns about emerging markets bolstered some investor flight to safety.
Spot gold jumped to a session high of $1,264.60 an ounce and was still up 1.5 per cent at $1,262.17 an ounce by 1527 GMT.
Bullion snapped five weeks of advances last week, falling 2 per cent, but posted a 3.2 per cent gain in January for the first monthly increase in five, owing to weakness in global equities gripped by concerns over emerging economies.
US gold futures for February delivery rose 1.8 per cent to $1,262.20 an ounce.
Spot gold jumped to a session high of $1,264.60 an ounce and was still up 1.5 per cent at $1,262.17 an ounce by 1527 GMT.
Bullion snapped five weeks of advances last week, falling 2 per cent, but posted a 3.2 per cent gain in January for the first monthly increase in five, owing to weakness in global equities gripped by concerns over emerging economies.
US gold futures for February delivery rose 1.8 per cent to $1,262.20 an ounce.