Gold set for seventh consecutive monthly gain on strong demand

By 0837 GMT, spot gold had dipped 0.1% to $5,181.18 per ounce. The metal has gained 6.5% since the beginning of February, marking a 58% surge over the past seven months.

In later trading, spot gold edged up 0.1% to $5,192.19 per ounce, while U.S. gold futures for April delivery climbed 0.3% to $5,209.20 per ounce.

Overall, gold is on track to post its seventh consecutive monthly rise, having advanced more than 6% so far in February.