Gold prices failed to move upwards in Asian trade Monday after equity markets rose in the region, attracted some investors amid positive reports on global economic recovery.
Gold for immediate delivery was seen trading at $1208.84 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was seen unmoved at $1209 an ounce.
Stock markets mostly rose across Asia, with the MSCI stock index outside Japan up 0.3 percent as investors waited for a string of U.S. corporate earnings out this week to set the tone in markets.
China's overseas sales jumped 43.9 percent in June from a year earlier to $137.4 billion and the trade surplus more than doubled to $20 billion, the highest level in eight months, the government said July 10
However, analysts said the precious yellow metal looks good in long-term outlook on worries about the debt crisis in Europe.
Meanwhile, the world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings fell to 1,314.515 metric tones by July 9 from 1,316.036 on July 8. The holdings hit a record at 1,320.436 metric tones on June 29.
Silver for immediate delivery fell 0.2 percent to $18.1025 an ounce, platinum was little changed at $1,531.50 an ounce and palladium was little changed at $458.88 an ounce.
On Friday, US gold futures finished at their highest close in four days, but gains were held in check by light volumes and sellers at $1,210 an ounce.
August gold futures firmed $13.70 to end at $1,209.80 an ounce on the COMEX metals division of the New York Mercantile Exchange.