Gold climbed to $1,227.90 (+0.61%) after declining on Friday. A selloff in stocks supported gold this morning. Bullion is on track to finish February with a nearly 10% gain, which would make this month the best one since January 2012.

Physical demand in Asia remained weak. Prices declined in India as buyers postponed purchases awaiting a cut in the import tax.

Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded-fund, rose by 0.27% to 762.41 tonnes on Friday.