Gold prices are higher on Monday's session as speculation surrounds the Fed maintaining stimulus plans for longer than previously expected.

August contracts are up $37.2 to $1,330.1 per ounce on the Comex, a one-month high for the metal. Futures trading volume is also elevated on today's session.

Gold moved above the 50-day SMA for first time since last February, market data shows.

With the 21 percent slide in gold prices this year, gold exchange-traded products (ETPs) haven't fared much better. Holdings of the commodity in gold ETPs slipped 2.9 metric tons (MT) to 1,976 tons as of July 19th, the lowest amount since May 2010.

Fed chairman Ben Bernanke calmed some fears last week when he commented that there wasn't a preset event for ending QE measures early.

Traders are also keeping an eye on oil. Higher oil prices might lead to increased inflation, something that hasn't been prevalent in the U.S. this year. Crude is down $0.53 to $107.34 per barrel in New York.

higher on today's session includes SPDR Gold Shares (NYSE: GLD), iShares Gold Trust (NYSE: IAU), Market Vectors Gold Miners ETF (NYSE: GDX), and various gold miners like Kinross Gold Corp (NYSE: KGC) and Goldcorp (NYSE: GG).