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Gold prices climbed on Monday on a weaker U.S. dollar and as investors looked to hedge against inflation.
Spot gold had increased 0.2 percent to $1,350.28 per ounce. The precious metal rose 2.4 percent last week in its best weekly gain since the week ended Sept. 1.
U.S. gold futures fell 0.2 percent to $1,353.10 per ounce.
Hedge funds and money managers reduced their net long positions in COMEX gold in the week to Feb. 13, U.S. Commodity Futures Trading Commission data showed on Friday.
Trading is expected to be slower than usual due to market holidays in the United States and China.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings increased 0.39 percent to 824.54 tonnes on Friday from 821.30 tonnes on Thursday.
Physical gold was sold at a discount in India last week for the first time in three weeks as demand for the metal slumped due to a jump in local rates, while the Lunar New Year holiday capped buying at the end of the week elsewhere in Asia.
Among other precious metals, silver climbed 0.2 percent to $16.69. Platinum rose 0.7 percent to $1,004.50, while palladium was 0.3 percent higher at $1,047.10.
