Strong speculative demand kept palladium near 16-years highs on Monday, though weak fundamentals are soon expected to take their toll on prices of the metal used to make auto-catalysts for gasoline-fueled cars.
Meanwhile, gold rose ahead of a U.S. Federal Reserve policy meeting on Tuesday and Wednesday that is expected to yield clues to the timing and magnitude of future interest rate increases.
Spot gold was steady at $1,266.16 an ounce, having shed 1 percent on Friday in its biggest one-day percentage fall since May 18. U.S. gold futures fell 0.3 percent to $1,268.20.
Palladium gained 0.1 percent to $891.50 an ounce after climbing above $910 on Friday, its highest since 2001.