Gold prices moved lower for a second straight session on Tuesday.
At the close of trading on the Comex, gold for December delivery was at $732.70 per ounce, down $9.30 on the session.
Analysts said gold's hedge appeal declined as the government released new data showing a significant drop in U.S. producer prices.
The U.S. dollar, meanwhile, gained ground against major European currencies.
Elsewhere in the metals markets, Copper for December increased 0.3 percent, silver for December delivery was up $0.22 to $9.55 per ounce. Platinum for January delivery was up $16.40 to $837 an ounce on the Nymex.
The price of crude oil moved lower on Tuesday, briefly touching a 22-month low.
Light sweet crude for December delivery closed down 56 cents at $54.39 per barrel on the NY Mercantile Exchange.
