London - Gold traded near a 34-month low in London as the worst quarterly slump in at least nine decades following the Federal Reserve’s comments on tapering stimulus may spur more physical demand. Gold dropped 25 percent this quarter, heading for its biggest loss since at least 1920 in London. Fed Chairman Ben S. Bernanke said June 19 that the Fed may begin tapering its bond- buying program this year. US data may show today that consumer sentiment improved and business activity expanded, economists said. Bullion slid 28 percent this year, set for the biggest annual drop since 1981, after rallying the past 12 years. About $62.4 billion was wiped from the value of precious metals...
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