Federal Reserve

KEEPING SCORE: Japan's Nikkei 225 fell 1.3 percent to 20,579.35 and South Korea's Kospi lost 1.1 percent to 2,060.76. Hong Kong's Hang Seng slipped 0.9 percent to 25,303.31. Australia's S&P/ASX 200 dropped 1 percent to 5,649.90. Stocks in Taiwan and Southeast Asia were also lower.

The price of the metal, which is often seen as a hedge against inflation and a weak dollar, slumped to its lowest in five years on Monday.

The dollar has rallied in recent months, diminishing the allure of holding gold. The U.S. economy has been on firmer footing, and tumult in China's markets and Greece's debt crisis have failed to restore gold's appeal as a safe haven.