Gold for February delivery dropped $21.80 or 1.3 percent to $1,645.90 an ounce.
Silver for March delivery shed $1.44 or 4.6 percent to $29.68 an ounce, the lowest price since August.
The euro was trading at $1.3237 from Wednesday's $1.3244. The dollar rose to 84.44 against the Japanese yen, up from Wednesday's 84.39 yen.
The Australian dollar was unchanged at $1.0482. The British pound fell to $1.6276 from Wednesday's $1.6280.