Gold climbed to $1,117.70 (+0.45%) as contraction of Japanese economy renewed demand for safe haven even after the yuan stopped falling. Last week the metal climbed 1.9% amid China's surprise yuan devaluation.

Nevertheless Fed interest rates remain key fundamentals for bullion. Minutes of the Fed's July 28-29 meeting due on Wednesday should shed some light on the bank's plan to raise rates for the first time in nearly a decade. Recent data on employment and retail sales argue for a rate hike in September.