The most active gold contract for December delivery rose 4.50 U.S. dollars, or 0.23 percent, to close at 1,947.20 dollars per ounce.
Bank of Japan Governor Kazuo Ueda reportedly told the Yomiuri Shimbun newspaper in an interview over the weekend that by the end of 2023, the central bank should have an idea about whether its decades of easy monetary policy can come to an end. Ueda's remarks boosted Japanese yen, dampening the U.S. dollar.
Investors are also waiting for the U.S. August consumer price index (CPI) due out Wednesday. The data can provide clues on the Federal Reserve's interest-rate decision later this month.
Market analysts hold that gold could have a make-or-break moment this week, which means gold price may break out of the range between 1,940 dollars and 1,980 dollars.
With the U.S. dollar expected to remain strong for the rest of 2023, market analysts also hold that the upside in gold is limited.
Silver for December delivery rose 20.90 cents, or 0.90 percent, to close at 23.383 dollars per ounce. Platinum for October delivery rose 7.50 dollars, or 0.84 percent, to close at 902.30 dollars per ounce.
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