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Gold heads for worst quarterly run since 2001 on U.S. economy

Posted on 27 March 2013

Gold, trading little changed after dropping for three days, headed for the first back-to-back quarterly losses since 2001 as signs that the U.S. economy is recovering cut demand for the metal as a store of wealth.
Gold for immediate delivery was at $1,599.46 an ounce at 9:50 a.m. in Singapore from $1,600.05 yesterday. Prices have lost 4.5 percent this quarter as holdings in exchange-traded products fell 6.8 percent, the most on record. Bullion for June delivery gained 0.2 percent to $1,599.80 an ounce on the Comex………………………………………..Full Article: Source


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