Gold price declined on a stronger U.S. dollar. The greenback rose against other currencies on speculation that the Fed will start raising its interest rate next month. Yesterday's speeches by the Atlanta Fed President Dennis Lockhart and the Fed Vice Chairman Stanley Fischer added to this speculation.

Atlanta Fed President Dennis Lockhart said on Thursday that the Fed should raise its interest rate soon.

The Fed Vice Chairman Stanley Fischer said on Thursday that the Fed has done everything to prepare markets for the possible interest rate hike.

December futures for gold on the COMEX today fell to 1078.00 dollars per ounce.