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The gold price fell to its lowest level for 15 months on October 6 after improved US employment figures boosted the dollar, according to Reuters.
The price of gold, which influences the price of other precious metals, hit its lowest level since June 2013, at $1,183 (£735) an ounce.
Platinum hit its lowest level since 2009, silver fell to its weakest since 2010, while palladium hit an 8-month low.
According to Reuters gold has also been hit by geopolitical tensions caused by military conflict between Russia and Ukraine and the rise of Islamic State in Iraq and Syria.
The market is also suffering from the absence of the main gold consumer China, where national holidays have shut the Chinese market until Wednesday.
