Continued strength in the U.S. dollar sent gold lower in Tuesday trading, erasing most of yesterday’s gains.

The precious metal slipped back below $1,400 an ounce as investors awaited fresh signals about how long Federal Reserve stimulus efforts will continue. Nervous investors sent equities markets lower as they considered the possibility that the Fed might curtail bond-buying earlier than expected.

Gold futures for July delivery sank 1% to $1,397.10 per ounce on Tuesday, according to CME Group. Gold traded as high as $1,413.50 and as low as $1,388.60. Gold bullion closed in London at $1,400, according to BullionVault.

Silver futures for July delivery slid 1.4% to $22.41 per ounce. Tuesday’s high for silver was $22.73 while the low was $22.23.

Gold and silver funds moved lower in Tuesday trading.

• The SPDR Gold Trust (GLD) fell 1%.
• The iShares Gold Trust (IAU) slipped 0.9%.
• The iShares Silver Trust (SLV) dropped 1%.

Gold and silver mining ETFs declined during the day.

• The Market Vectors Gold Miners ETF (GDX) slid 1.7%.
• The Market Vectors Junior Gold Miners ETF (GDXJ) sank 2.2%.
• The Global X Silver Miners ETF (SIL) dipped 0.9%.

Gold mining shares declined on Tuesday.

• Agnico-Eagle Mines (AEM) fell 1.9%.
• Barrick Gold (ABX) dropped 2.5%.
• Eldorado Gold (EGO) slid 2%.
• Goldcorp (GG) sank 1.7%.
• Kinross Gold (KGC) moved down 2.3%.
• Newmont Mining (NEM) slipped 1.2%.
• NovaGold Resources (NG) was unchanged.
• Yamana Gold (AUY) dipped 1.2%.

Silver mining shares sank during the day.

• Coeur d’Alene Mines (CDE) tumbled 3.1%.
• Hecla Mining (HL) fell 1.5%.
• Pan American Silver (PAAS) slipped 0.7%.
• Silver Wheaton (SLW) declined 1.7%.
• Silver Standard Resources (SSRI) dropped 1.8%.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.