Gold and other metals futures fell on Friday, as investors sold commodities and stocks and bought the U.S. dollar following renewed concerns over debt levels in the euro zone.
Rising tensions between North and South Korea, meanwhile, also had investors seeking the safe haven of the dollar.
Gold for December delivery slumped $18.30 to $1,354.70 U.S. an ounce on Globex.
The contract earlier hit an intraday low of $1,350.50 U.S. an ounce.
U.S. markets were closed on Thursday for the Thanksgiving holiday and volumes are expected to remain thin on Friday during a shortened trading session.
Also pressuring gold prices was a rally in the U.S. dollar.
The euro slumped 0.8% to $1.3233 U.S., as worries escalated over sovereign-debt levels in the euro zone, with officials from Portugal and Spain rushing to deny reports that their countries may need financial aid in order to rein in ballooning deficits. Read more on Spain and Portugal.
The dollar index, which tracks the performance of the greenback against a basket of other major currencies, rose 0.6% to 80.364.
Dollar strength tends to pressure dollar-denominated commodity prices because it makes those commodities more expensive for holders of other currencies.
