Gold prices have slipped to around $3,880 an ounce, their lowest point in over a year.
The drop comes as investors worry the US Federal Reserve might raise interest rates again to tackle stubborn inflation.
Higher Treasury yields and a strong dollar are also making gold less appealing right now.
Fed officials discuss tighter policy
Top Fed officials are talking about stricter policies to keep the economy from overheating, especially with consumer prices on the rise.
With bond yields surging by more than 12 basis points, especially in short-term securities, and oil prices climbing due to global tensions, many expect another rate hike before the year ends, so all eyes are on what the Fed does next.