Gold prices build on last week’s momentum

Gold prices rallied on Monday, adding on to last week’s 2.5% advance as the volatility that has gripped the stock markets showed no sign of calming.

By midday in East Asia, gold for February delivery GCG5, +0.82%  was higher by $10.60, or 0.9%, at $1,226.70 an ounce, while March silver SIH5, +1.01% climbed 16 cents, or 1%, to $16.58 an ounce