Gold retreated today after the US dollar rebounded against the yen and the euro.
The American currency has been under pressure from the growing anticipation of further quantitative easing (QE) by the Federal Reserve.
Last month, the Fed said that low inflation and a high employment rate were a concern and left the door open for more government debt purchases.
A number of high ranking Fed officials have already expressed their support for further stimulus, while Chancellor of the Exchequer George Osborne said he would back the Bank of England if it decides to expand its £200 billion QE programme.
Gold is seen as an alternative investment to the US dollar and usually moves inversely to the greenback.
Gold fell to US$1,343/oz, while silver and platinum declined to US$23.19/oz and US$1,687/oz respectively.
It has been a slow day in the mining sector. Platinum producer Lonmin (LON:LMI) and silver miner Fresnillo (LON:FRES) lost less than 1%. Gold miner Randgold Resources (LON:RRS) dropped 1%, while peer African Barrick Gold (LON:ABG) rose marginally.
Midcaps were mixed. Aquarius Platinum (LON:AQP) added 2.1%, while silver producer Hochschild Mining (LON:HOC) was flat and gold miner Petropavlovsk (LON:POG) declined 1.4%.
Moscow-based gold exploration and mine development company Ovoca Gold (LON:OVG) and Turkey and Saudi Arabia operating gold and copper explorer KEFI Minerals (LON:KEFI) were among the top performing small caps with gains of 8.5%.
UK-based and Botswana and Lesotho operating diamond mining and development company Firestone Diamonds (LON:FDI) followed, climbing 6%.
Gold developer-producer with assets in West Africa Cluff Gold (LON:CLF) and Philippines based gold producer Medusa Mining (LON:MML) each added 5.5%.