Gold slides to over-four-year lows on strong dollar

Gold futures on the COMEX division of the New York Mercantile Exchange on Wednesday fell to its lowest price since April 2010, as a soaring U.S. dollar weakens investment case for the bullion.

The most active gold contract for December delivery fell 22 U.S. dollars, or 1.88 percent, to settle at 1,145.7 dollars per ounce.

Gold prices continued to come under pressure from a stronger greenback, which cuts investors' demand for the precious metal.

The dollar on Wednesday appreciated more than 0.5 percent against the euro amid expectations that the European Central Bank might enact a further stimulus during its policy meeting on Thursday. Meanwhile, the U.S. currency jumped almost 1 percent against the Japanese Yen.

The Bank of Japan last week sent an unexpected message to investors that the central bank remained in the easing mode, which came only days after the U.S. Federal Reserve announced the end of its bond-purchasing program.

On the economic front, a report from U.S.-based ADP showed that the private sector added 230,000 jobs in October, boosting investors' confidence in the official employment report due out on Thursday.

Silver for December delivery lost 51.4 cents, or 3.22 percent, to close at 15.439 dollars per ounce. Platinum for January delivery lost 14.1 dollars, or 1.15 percent, to close at 1210.6 dollars per ounce.