Gold prices slid on the Comex division of the New York Mercantile Exchange Wednesday, losing $14.70, or 0.9 percent, to $1,608.50 per troy ounce.
Silver lost 28 cents to close at $28.08 per troy ounce.
The dollar was mixed across Asia and Europe with the dollar index virtually flat, rising 0.01 percent to 81.42 on the International Exchange.
The euro rose to $1.27 from Tuesday's $1.2686. Against the yen, the dollar rose to 79.57 yen from Tuesday's 78.95 yen.
The British pound was $1.5709 from Tuesday's $1.5725. The Australian dollar was trading at $1.0194 from $1.0189.