The gold price in Hong Kong closed at 11,660 Hong Kong dollars (about 1,497.66 U.S. dollars) per tael on Monday, up 42 Hong Kong dollars from the previous trading day, according to the Chinese Gold and Silver Exchange Society. (1 U.S. dollar equals to 7.79 HK dollars)

Some analysts believed that a weaker U.S. dollar was due to continuing political controversy around President Donald Trump and his team, which might jeopardize his ambitious economic growth programs.

As for other precious metals, silver for July delivery rose 39.5 cents, or 2.35 percent, to close at 17.191 dollars per ounce. Platinum for July delivery was up 10.1 dollars, or 1.07 percent, to settle at 950.3 dollars per ounce.