He adds that volatility in world affairs continues to be a factor driving money into gold. The U.S. dollar index is up 0.5%. Front-month gold futures settle down 0.5% to $3,292.30 per troy ounce.

According to the government’s financial statements, the U.S. owns about 261.6 million troy ounces, or almost 8,200 metric tons, of gold.Those reserves are currently valued at a set rate of $42. ...

Despite a 28 percent surge in gold prices this year, the World Gold Council (WGC) expects India’s gold consumption to remain within the projected range of 700-750 tonnes.