Gold settled at it's lowest level in nearly four months on Tuesday as the dollar rose to its highest in nearly 12 years and renewed expectations of a mid-year interest rate rise in the United States kept prices in check.
U.S. gold futures closed down $6.40 an ounce at $1,153.80, its weakest closing price since November 12. Spot gold was last down 0.5 percent at $1,160 an ounce.
Platinum fell to a new near-five-year low of $1,125.75 an ounce. The metal has dropped 5.1 percent since the start of the year on expectations of lower demand from the automotive sector and higher mine supply.
"Dollar strength overnight in Asia sent the complex lower," Deutsche Boerse's MNI senior analyst Tony Walters said.
"The trend is your friend and people will continue to sell rallies," he added. "Seemingly the only spanner that could be thrown into the works at the moment is if the Fed doesn't raise rates in June, but the market is short ... and it continues to go in its favor."