Gold was trading around US$1,225 an ounce on the spot market earlier, about $15/oz lower than this time yesterday.
There were mixed results in the gold sector around the globe.
Condor Gold (TSX: COG) rose more than 14% yesterday after telling the market on Monday it was confident the company was close to receiving permitting approval for its Mina La India gold project in Nicaragua.
The benchmark S&P/TSX Composite Index remains close to a one-year high with metals and mining stocks up more than 1% yesterday.
Among the gold majors, Barrick Gold (TSX: ABX) closed down 0.65% in Toronto, while in the US Newmont Mining (NYSE: NEM) rose 1.21%.
In Australia, gold miner Northern Star Resources (ASX: NST) was off 0.4% at the time of writing, despite announcing a record quarter and generating about A$1 million (US$0.74 million) in free cash flow a day.
Finally, BHP (ASX: BHP) was up more than 3% this afternoon after releasing its yearly review and outlining increased copper output and several production records.