On Monday gold was approaching the highest level in almost three weeks, as the Fed's decision not to increase rates spurred demand for the yellow metal.
Comex gold for December delivery added $0.40, or 0.04%, to trade at $1,138.20 a troy ounce during European morning hours.
On Friday, gold rose to $1,141.50, the most since September 1st.
Last week, futures surged $30.30, or 3.14%, after the Fed left short-term interest rates unchanged due to worries over soft inflation and the effects of recent market volatility on the U.S. economy.
The central bank said it wanted to see "some further improvement in the labor market," and be "reasonably confident" that inflation will increase before increasing rates.
Most market experts now expect the Fed will begin raising rates in December.
Gold fell to a five-and-a-half year low of $1,072.30 on July 24 amid speculation the Fed will raise interest rates for the first time since 2006 at some point this year.
The timing of the first Fed rate hike since 2006 has been a constant source of debate in the marketplace in recent months.
Сopper for December delivery on the Comex division of the New York Mercantile Exchange rose 0.022 cents, or 0.91%, to trade at $2.408 a pound.
On Friday the red metal fell to $2.372 on Friday, the lowest level since September 8, as the Federal Reserve’s downbeat assessment of the global economy hurt investor sentiment.
