Saturday November 28, 2020

Gold set for biggest annual loss in three decades

Gold is set for its biggest annual loss in three decades and its first annual drop in 13 years, as an improving economy cut demand for a protection of wealth.

30th December, 2013
"There’s currently no crisis and nothing that would induce investors to rush into gold,” said an analyst.

Gold is set for its biggest annual loss in three decades and its first annual drop in 13 years, as an improving economy cut demand for a protection of wealth.

Bullion slid to $1,187.13 an ounce on December 20, near this year’s low set in June, before rebounding to a one-week high of $1,219.28 on December 27. Global equities traded near the highest level since 2007 before reports this week that may show improvements in US housing and manufacturing.

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