Gold prices increased on Monday amid fears of a potential recession in the U.S. and a slow global growth, Reuters reported. Spot gold rose to $1,316.40 per ounce, up 0.3 percent. Likewise, the price of gold gained 0.3 percent at the gold futures to reach $1,316.50 an ounce, it added.

Last week, the precious metal registered its third consecutive weekly gain with a 1 percent price rise, which is the highest gain since February.

The increase in gold prices lowered the prices of global stocks. Nikkei 225 in Japan plummeted more than 3 percent, while Seng Index in Hong Kong plunged nearly 2 percent, according to

Sources: Reuters,