Gold is losing its glitter. Prices have headed south ever since the spectre of US Fed tapering appeared. The yellow metal's price is set to end the year with a loss of nearly 30%.
That's the biggest yearly loss in three decades. A sharp turnaround from the past 12 years of rises. Back in 1999, gold was just 251 dollars per ounce -- it jumped almost seven times to a high of 1900 dollars per ounce in 2011. It's now trading just above 1200 dollars. The general belief is the end of gold's bull run -- tame inflation and strong stocks robbing the precious metal's shine. But some analysts say if the global recovery hits a snag next year, gold prices may rebound.
Source:
http://news.chemnet.com/Chemical-News/detail-2221881.html
