Gold fell again and was heading for a second week of falls after disappointment with the latest European leaders’ summit sent the dollar higher.
Spot gold was US$7.6 lower at US$1733.6, silver shed US$0.43 to US$32.3 while platinum fell US$9 to US1,627.
Traders said EU chiefs failed to come up with the decisive measures the market wanted to tackle the eurozone debt crisis.
The meeting focused on establishing a bank supervisor for the eurozone and came up with little new in the way of initiatives to tackle the problems of Greece and Spain.
"It is good for Europe that we'll have a single supervisory mechanism up and running in the course of 2013," Herman Van Rompuy, president of the European Council.
A bank supervisor is necessary to enable the European Stability Mechanism to rescue banks directly without recourse to national governments.
There were few clues on whether Spain will ask for bail-out and if Greece can do enough to receive its next tranche of bail-out cash.
The news hit the euro and drove the dollar higher, knocking the gold price.
Elsewhere, South African gold producer Gold Fields, said 11,000 workers, had returned to work at its KDC West operations in Carletonville after being threatened with dismissal. Work has now resumed at all of its mines.
