Gold prices gained on Monday, following a more than three-week low in the previous session, as they drew support from a weaker dollar and safe-haven buying triggered by concern over U.S. President Donald Trump's tariff policies.

Spot gold gained 0.5% to $2,873.93 an ounce by 1209 GMT. U.S. gold futures rose 1.3% to $2,885.

The dollar index (.DXY), dropped by 0.6% from a more than two-week high in the previous session, reflecting weakness that makes dollar-priced gold less expensive for buyers holding other currencies.

"Gold’s downside remains limited, given the apparent demand for safe havens amid rising geopolitical and economic growth uncertainties," said Han Tan, Exinity Group's chief market analyst.

Trump last week threatened China with an extra 10% duty, set to take effect on Tuesday, resulting in a cumulative 20% tariff.

Despite being widely viewed as a hedge against geopolitical uncertainty, non-yielding gold becomes less attractive to investors when interest rates rise.

Gold fell more than 1% in the previous session, retreating from record highs breached on multiple occasions this year, after U.S. inflation data suggested that the Federal Reserve could adopt a cautious stance on cutting interest rates this year.

Traders await the U.S. payrolls report due later this week for more clues on the Fed's monetary policy.

"Our forecast for gold to reach $3,000/oz this year is unchanged," UBS analysts wrote, adding that it could reach as high as $3,200 in certain risk scenarios.

"We see room for larger gains in silver as the gold rally consolidates and global industrial production signals a modest recovery."

Spot silver was up 1.2% at $31.52 an ounce, platinum gained 0.8% to $955.5 and palladium added 1.5% to $933.09.