Trading for gold at the New York Mercantile Exchange (COMEX) ended at $1,173.10 and was down $1.30.
The USD plunged at $1.1217 while the dollar Index went down from 95.44 to 95.10. The price of gold was $1,174.40 and down by 20 cents. The equivalent of the common currency was registered at €1,047 96.
Gold traded in London markets at $1,174.10 while the euro was pegged at €1,048.40.
Silver declined to $15.87 and went down three cents in New York. The metal traded at $15.83 during the initial session.
For the meantime, interest rate disparity between the United States and European Union continue to pressure the USD. Last week, FOREX markets maintained an exchange rate more or less $1.12 to €1.
In India, farmers are expected to purchase gold starting September.
Demand from China seems strong as premiums in pricing of gold increased in London. Yearly demand is seen to be higher than 2013. The reason is Chinese investors are unlikely to turn away from their love for this precious metal. Henceforth, market stakeholders believe requirements in Asia will still strengthen overall demand for gold.
US investors have purchased 7.753 tons from SPDR but practically ignored Gold Trust. SPDR gold holdings for ETF were listed at 713.228 tons while Gold Trust recorded 167.79 tons