The yellow metal started the week with a sharply incline amid the fears that dominate the market, while the investors see the gold as a pure investment after the Euro-Zone introduced more stimulus to support the debt crisis to ease along with the US debt ceiling which is a clearly grabbing major headlines at the moment.

Moreover, the yellow-metal has approached a record high on demand for an investment haven amid persistent debt concerns in the U.S. as the country's debt-ceiling increased fears among investors about a default.

The gold rose, which grabbed the market's attention after recorded a new-decade high at $1623, and now trades around $1612.