@Shadow Of The Wind: I don't know how to answer your question. Since I am ill informed on audio hardware terminology. I hope this picture answers your question. 
My cable looks a little different then the one you showed me. It looks like this. It is an unbalanced Hosa XLR to 1/4 cable. http://www.bhphotovideo.c...1_4_Male_to_3_Pin.html


@AT: How can I connect my MP3 to the device?
And I can play back and hear audio files from the MP3 player, when the files were imported into the Sonar recording software.  

Hello?
Yall just gonna leave me hangin?
I need HELP!


Update: I fixed the clicking and popping from audacity and sonar from increasing the buffer size as you guys said. 

But I need to know how can verify that this is a bad cable so I can refund this POS cable.
I got the receipt in my dresser and everything..... 

You probably can't tell just by looking at it. Best way is to try a known working lead. Or take the one back you bought and swap it, see if it makes a difference.

I'm gonna suggest the following. 

I don't think the interface is the best one. It might be cheap.... but the interface is no place to cut corners.

Several issues I see with the interface.

On it's web site, I do NOT see where it has a built in preamp. With dynamic mics, you need something to get the signal level up to a useful level.  Either a preamp or a small external mixer will do the job.  Next it does not appear to have phantom power for a condenser mic 
It also does not have external power....it uses bus power....which on a laptop is probably barely enough to make it work. My Saffire claims to be able to be bus powered as well but it did ship with an external power supply which I use.  
It has NO balanced inputs. Only inputs on it are the unbalanced 1/4" style jacks. This is probably where the hum is coming from. The balanced line would help to eliminate the hum, but you do not have that option. 

So the combination of unbalanced inputs with no preamps seems to be the issue here. 

You mention the latency with synths..... yeah that would be a symptom of a less than ideal interface not set up properly. 

I Want To Record Hip Hop

What's a ground loop and a dodgy cable. The driver is set to 32-bit. My buffer is at 192 at the moment. I dropped down from 256. 


 

If you are experiencing clicks and pops, you probably want to raise your buffer up to 512 or higher.  Try 512 first and see if it helps, then go up from there.  Going lower than 256 is probably only going to make the problem worse.
 
Oops, I see that you already raised your buffer ... didn't see that post at first.

The cable is the right one.

I agree with leapinlizard that the interface is not something that I would recommend. The input is unbalnced, it does not have phantom power, and the gain is marginal.

If that is an option at all, I would return the interface and get a better one. It looks like the EX version has everything you need. With that interface, you also don't need the XLR to unbalanced 1/4 inch cable, but a standard XLR female to XLR male.
However, we still haven't found an explanation why there does not seem to be any signal.

Wilko

Hello... if your microphone is LOW impedence... you need to change it to High Impedence, before using a 1/4" plug with it.  I used to use the Radio Shack convertors years ago... and still have them. A few of my OLDER Shure mics have a internal Jumper to change them between High and Low Impedence, and a convertor wound not be needed. Here is a link for an example... http://www.americanmusical.com/Item--i-WHI-LITTLEIMP?src=Y0802G00SRCHCAPN&gclid=CNqAu4iG5rQCFUeRPAodU2QAaA  and my Radio Shack Model http://www.radioshack.com/product/index.jsp?productId=2062443 
You use a standard microphone ( male/female ) cable with this type of device... the only pitfall from this type of device is it will stick out and have some weight to it... the advantage is they are in-expensive and allows you to use a quality LOW IMPEDENCE Microphone into your guitar amp extra channel on the FLY... I used to keep one with a Mic and Mic cable in my Guitar AMP/Guitar CASE... For those PA-less JAM Sessions. 

What I don't see is on the Roland info is if the mike input is balanced ( TRS) and low impediance or not. It's not clear if the interface even has a pre amp which I doubt.  I'm afraid you are better off to either get an interface that has proper XLR inputs and a good pre amp. Or buy a non pro hi impedance Karaoke mike.    

The mike is a Balanced low impedance mike and not great but should work fine when using a proper balanced low imp input.  The cable you bought is wrong. The pin connection will be wrong. 

Your PG58 package includes a break-resistant mic clip, soft zipper storage pouch, and a 15-foot cable of your choice: standard XLR mic cable, or a handy XLR to 1/4-inch TRS cable for PA systems with 1/4" inputs

Hello i found this info on this Website... http://www.musiciansfriend.com/pro-audio/roland-duo-capture-usb-audio-interface 

LINE IN jack (Stereo miniature phone type)

MIC/GUITAR jack (1/4-inch phone type) I interrpet this as a standard guitar TS 1/4 plug... and if that is a LOW impedence MIC... a convertor/tranformer would be needed.

PHONES jack (Stereo 1/4-inch phone type)

Line input: -10 dBu

Guitar input: -25 dBu

Microphone input: -45 dBu

 I found this about the Microphone in Question...  http://55d5340a043a828856e1-f62de27af599bb6703e11b472beadbcc.r28.cf2.rackcdn.com/specification_sheet/upload/66/us_pro_pg58_specsheet.pdf  
 
300 ohms is a LOW Impedence Microphone.
 
I used to have a Tascam Portastudio in 80's and used these convertors/tranformers with my Low IMPEDENCE MICS for remote battery powered recordings... and recomend spending $20 for your Microphone problem=solution.