Gold was up more than 1.80% in late trading Monday past the $2,600 level after falling six days in a row last week.
The escalation of the Russia-Ukraine conflict and the fall of the US dollar open a wider path for gold to climb higher.
At 9.30am, the price of gold was at $2,613.25 which is up 0.04% since it opened in early trading on Tuesday in the Asian session.
Meanwhile, the US stock market was mixed as only two of the four giant indexes made gains.
Geopolitical conflicts continue to drive the yellow metal's position after Russia's massive attack on Ukraine sparked a reaction from the White House administration.
Recently, US officials revealed that President Joe Biden approved the use of long-range missiles by Ukraine to attack Russia.
The decision was also motivated when North Korea sent thousands of North Korean troops to support Russia.
In addition, the victory of Donald Trump which provided support for the USD currency following concerns of high tariffs and low taxes is seen as an inflation driver that may slow the Fed's policy easing cycle.
The Fed is expected to lower borrowing costs for the third consecutive meeting in December. However, recent data has seen investors cut the odds from an 82% chance of a 25 basis point cut to 62%.
Coming into the week, the US economic table will feature housing data, Initial Jobless Claims, S&P Global Flash PMI and the final University of Michigan (UoM) Consumer Sentiment reading for November.
