It was trading at $1,503/oz earlier, ahead of a US Federal Reserve meeting later this week.
Copper had finished last week up 2.5% on the London Metal Exchange after goodwill trade gestures between the US and China improved sentiment.
Market futures are proving mixed at the start of the week.
Rio Tinto (LSE: RIO) closed up about 2.2% in London on Friday, while metals and mining stocks closed 2.7% higher in Toronto.
In Australian trade, BHP (ASX: BHP) was up 3.5% at the time of writing.
Western Australia-based gold miner Northern Star Resources (ASX: NST) was up 5.6% ahead of its presentation tomorrow to the Denver Gold Forum in the US.
Other presenters include majors Barrick Gold (TSX: ABX) and Newmont Goldcorp (NYSE: NEM), which last closed up 1% and down 0.1% respectively.