Gold prices have fallen below $US900 an ounce for the first time in a month.
A sharp rally in global stock markets has prompted investors to switch from the metal.
The S&P 500 index rose nearly 6%, while the Dow Jones Industrial Average added 350 points.
At 3.36pm EDT (1936 GMT) on Tuesday, spot gold was at $US897.30 per ounce - down 2.2% from $US920.95 in New York late on Monday.
US gold futures for April delivery settled down $US22.10, or 2.4%, at $US895.90 per ounce on the COMEX division of the New York Mercantile Exchange.
Among other precious metals: spot silver was at $US12.61 per ounce, down 2.4% from $US12.92 on Monday.
Spot platinum was at $US1,040.00 per ounce, down 1.7% from its previous close of $US1,058.
Spot palladium was at $US194.50 per ounce, up 0.3% from $US194 in New York late on Monday.