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Gold today declined from a one-week high on speculation that improving economic growth may curb demand for a protection of wealth.
The gold lost 0.3 per cent to $1,581.28 an ounce.
Prices reached $1,590.46 yesterday, the highest since April 2. Silver also fell 0.7 per cent to $27.79 an ounce, after jumping 2.5 per cent, the most since November 6.
The US Federal Reserve will today release minutes of its March policy meeting, when it signalled it would continue asset purchases to bolster growth.
Goldman Sachs cut its gold forecasts through 2014 and said the turn in the price cycle is accelerating as the US economy strengthens. Global equities reached a three-week high today and less than 1 per cent below the highest since June 2008.
Bullion is down 5.5 per cent this year after 12 straight annual gains. Holdings in the SPDR Gold Trust, the biggest bullion-backed exchange-traded product, fell to 1,200.4 tonnes, the least since June 2011.
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