Gold, currently trading at USD1171.00 declined today after Friday's biggest gains in more than a four months period after U.S. nonfarm payrolls increased to 214,000 in October but not being in line with forecasts (231,000) putting pressure on the greenback. Last week gold was trading at 4 ½ year lows caused by the strong U.S. dollar and investors' fears the FED could increase interest rates. A strong U.S. dollar, bullish equity markets and an improving U.S. economy still weigh heavy on gold.

GOLD currently trading lower at USD1171.00 after Friday's rally