U.S. gold settled up 0.3 percent at $1,347.50.
"I would attribute it to a little easing in the U.S. dollar and somewhat robust oil prices," said Bart Melek, head of commodity strategy for TD Securities in Toronto, referring to the reasons behind higher gold prices.
"That means there's a bit of potential for more appetite given that central banks are still easing."
The dollar was down 0.1 percent against a basket of currencies, while Wall Street stocks rose to record highs on expectations for continued monetary policy easing around the world.
A lower dollar makes gold cheaper for other currency holders. Higher shares, however, signal increased investor risk appetite.
"We have Fed minutes coming out in the middle of the week, which is likely to tell us what the Fed's thinking is going into the second half of the year, when it probably going to come under pressure to raise rates," Mitsubishi Corp strategist Jonathan Butler said.
"In general the negative rate environment, particularly in the euro zone and Japan, is going to keep gold well bid and even though we may be seeing some tempering of gold's gains by the pretty strong equity market performance right now, that is going to come into question as the Fed looks to raise rates."