At 1500 GMT, the rand traded at 14.7275 against the dollar, around 0.67% firmer than its previous close.
"South Africa's is a major exporter of minerals, precious and base metals, lending itself to rand sensitivity relative to these commodity prices, and today these prices are supportive of the domestic currency," IG senior market analyst Shaun Murison said.
Gold prices rose about 1% on Monday, as a retreat in U.S. bond yields and persisting worries about inflation lifted the safe-haven asset.
Platinum and Palladium also edged higher.
Higher precious metals prices have helped cushion the economic shock from the COVID-19 pandemic by providing South Africa with bumper tax receipts.
The yield on the government's 2030 bond was down 3 basis points at 9.555%.
On the stock market, the Top-40 index was down 0.13% to 60,445.78 while the broader all-share closed 0.1% lower at 66,980.45.
Shares in miner Sibanye Stillwater fell 5% after the company said it was in talks to buy Santa Rita nickel and Serrote copper mines in Brazil.
(Reporting by Alexander Winning and Olivia Kumwenda-Mtambo; Editing by Bernadette Baum)
