The Parkhead side had a scout at the Argentinian Premier Division match between Gimnasia and Velez Sarsfield to watch the highly-rated 25-year-old. The Gimnasia goalkeeper has been linked with a move to Boca Juniors, but would prefer a move to Europe.
Although never capped by Argentina, Monetti is regarded as one of the best goalkeepers in the league and has been widely tipped to go to the World Cup in Brazil this summer as third-choice custodian. It is understood Celtic are considering making an offer for Monetti, who has been with Gimnasia since he was a youngster.
Meanwhile, the former Celtic central defender Glenn Loovens is to open talks over a new deal at Sheffield Wednesday. Loovens, 30, is one of 12 players at Hillsborough out of contract at the end of the season and keeping him is a priority for the club.