Gold traded flat on Monday, hanging around the lowest level touched in two months on worries about the soared inflation and the projected hiked interest rate from Fed's side to contain it.

Spot gold muted at $1,811.37 per ounce, meanwhile gold futures is nearing $1,818.00 per ounce.

The two measures touched the ground by the end of December. Also, spot gold was on the verge of breaching the critical $1,800 support level, which could result in additional short-term losses.

After falling below the critical levels the previous week, copper prices modestly increased this week. Bets on a rebound in Chinese copper consumption this year were mostly offset by worries about the subsequent economic downturn brought on by tighter monetary policy.

Copper futures edged up by 0.4% to $3.9725 after hitting their lowest point since the beginning of January, the price has fallen below the critical level $4.