Gold prices fell on Wednesday as the dollar gained ground against the euro, prompting bullion investors to liquidate long positions amid weak buying sentiment, traders said.
The US active gold contract for June delivery settled down $US16.20, or 1.8 per cent, at $US909 an ounce.
Spot gold sank to an intraday low of $US897.10 an ounce and was at $US906.10, well below levels of $US921.35 late in New York trade on Tuesday.
Platinum fell 2 per cent to $US1,975.50 an ounce on the declines in gold, and was last quoted at $US1,997 against $US2,022.50, its Tuesday US close.
Platinum faced pressure from news that Mitsui Mining and Smelting had developed a new catalyst for diesel car engines that replaces the use of platinum with silver, a less conventional but much cheaper metal.
Silver edged down to $US17.21 an ounce from $US17.685 late in New York on Tuesday, while palladium fell to $US444.50 versus its previous close of $US454.
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