Precious metals fell early Tuesday, along with Treasuries, as investors prepared to return to riskier assets like stocks.

Gold for December delivery on the CME Comex division of the New York Mercantile Exchange slipped 1.8 percent to $1,883.30 from Monday's high and platinum declined 1.3 percent to $1,893.10. Silver surrendered 3.1 percent of its value.

Exchange-traded funds backed by physical metals also declined in premarket trading, with SPDR Gold Trust -- which just surpassed SPDR S&P 500 ETF to became the world's largest ETF by assets -- 0.77 percent, and iShares Silver Trust down 1.8 percent.

In the last three trading session, gold has surged 6 percent, up $400 per ounce since July, making it one of this year's best-performing assets, now up 33 percent year to date. The S&P 500 has lost 10 percent this year, according to Reuters. On Monday, spot gold rallied nearly 2 percent to a record near $1,900 an ounce while stocks in the S&P 500 Index rose just 0.4 percent.

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