Gold resumes decline after striving for gains yesterday

Gold gave up ground on Friday after rising yesterday on the dollar's dip, however heading now for a weekly loss as commodity demand weakens. 

Dollar gave up ground yesterday on lower US treasury bond yields, after Federal Reserve Governor Bullard called for caution in raising interest rates too quickly so the US economy wouldn't take damage. 

Dollar's dip yesterday underpinned the yellow metal, before reversing course today and heading for a weekly loss. 

Gold was hurt after Fed's meeting minuted showed the bank's commitment to hike interest rates gradually this year. 

Gold dipped to $1,328.51 an ounce from the opening of $1,331.25, with a session-low at $1,328.20, and a high at $1,332.15.