Gold settled close to $1,500 per ounce, a drop of more than 20 percent from its record 2011 highs, putting it in bear market territory for the first time after 12 years of gains.
Gold bounced back from a one-week low hit in earlier trade to end at $1,564 per ounce, as a weak dollar prompted buyers to pick up bargains, although analysts expect the rebound will be short-lived.
Cyprus plans to sell 400 million euros' worth of reserves to finance part of its bailout, according to European Commission documents. The move marks the biggest euro zone bullion sale in four years.
Gold rose on Tuesday as volatility in the currency market triggered by Japan's aggressive monetary easing plan lifted bullion's appeal as a hedge against inflation and currency fluctuations.
Gold fell on Monday as a stronger performance in U.S. equities and a dollar rise prompted investors to take profits after its rally in the previous session.
Gold rallied over 1.5 percent, its biggest one-day gain since November, as disappointing U.S. job data fueled expectations the Federal Reserve will continue its bullion-friendly bond purchases.
Gold settled lower for a third session on Thursday, as hopes of another interest rate cut by the ECB and new monetary stimulus offered by the Bank of Japan failed to stem heavy selling of bullion by funds.
Gold ended lower after earlier tumbling to a nine-month low near $1,550 an ounce as deepening losses in crude oil and equities triggered a sell-off of commodities.
Gold fell 1.5 percent, its biggest one-day drop in more than a month, as economic optimism lifted U.S. equities to near a record high and weakened bullion's safe-haven appeal.
Gold settled higher in light holiday trade, as the market digested U.S. manufacturing and construction reports that painted a mixed picture of the economy ahead of the all-important nonfarm payrolls report later in the week.
Gold settled below $1,600 an ounce, as banks reopened in Cyprus for the first time in two weeks without signs of panic withdrawals, sapping demand for low-risk assets.
Gold rose 0.5 percent, snapping a three-day losing streak, as renewed euro zone worries and hopes the Federal Reserve will continue its loose monetary policy triggered bullion buying.
Gold fell for the third session in a row on Tuesday as relative calm returned to Europe and better U.S. data pointed to an improving economy.
Gold extended initial losses, hitting its lowest in ten days as investors unloaded safe-haven assets and sought equities after Cyprus struck a last-minute bailout deal with lenders.
Gold fell as investors took profits a day after the precious metal hit a one-month high, and safe-haven buying dried up as a deal between Greece and Cyprus eased fears of an escalating euro zone debt crisis.
Gold rose to a near one-month high, as safe-haven buying emerged after the European Union gave Cyprus an ultimatum to raise billions of euros it needs to clinch a bailout deal or face a likely exit from the currency zone.
Gold slipped slightly in brisk trade on Wednesday after the U.S. Federal Reserve issued its latest policy statement, repeating its accommodative stance while extending it another two years, but gains in the euro provided support for the precious metal.
Gold reversed earlier losses, hitting a 2-1/2 week high above $1,615 an ounce on renewed flight-to-safety investment before an anticipated vote by the Cyprus parliament on a bailout plan.
Gold extended earlier gains to hit its highest since late February, with some investors drawn to the precious metal's safe haven properties as a radical bailout package for Cyprus shook sentiment in the euro zone.
Gold finished higher on Friday, marking its second straight weekly gain, as the euro firmed and stocks fell.