Gold futures on the COMEX Division of the New York Mercantile Exchange closed higher on Monday, buoyed up by concerns over Chinese inflation.
The most active gold contract for February delivery gained 4.7 dollars per ounce, or 0.35 percent, to settle at 1,365.1 dollars.
Market traders noted that the gold market, which was earlier underpinned by the turmoil in Egypt, could get a further support if China, the world's second largest gold consumer, reports a high inflation number.
A trader noted that China's inflation data are something to be watched. If the number is high, it may cause another upward move in gold prices, because people would use gold as a hedge against inflation.
China is scheduled to release January's inflation data around Feb. 15 and analysts predicted that the number will exceed five percent due to the consumption hike triggered by the Lunar New Year holidays and the severe drought in China's northern region.
China reported a 4.6-percent increase of the CPI in December 2010.
Silver for March delivery also hiked 53.9 cents, or 1.79 percent, to 30.534 dollars per ounce. April's platinum increased 14.1 dollars, or 0.77 percent, to 1,827.6 dollars per ounce.
