Gold climbed to $1,217.90 (+0.64%) after Asian stocks reversed gains on lower oil prices. Analysts say that a rally in stocks could put pressure on the precious metal. Meanwhile physical demand in top consumers India and China struggled. Prices in both countries fell.

Nevertheless inflows data suggest that investors are interested in gold. Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded-fund, rose by 2.64% to 752.29 tonnes on Monday. This year's inflows have already outrun outflows for the whole of 2015.