Gold suffers worst monthly run for 16 years


Gold has suffered the longest run of monthly falls since 1997 after the metal declined for the fifth month in a row in February.

Spot gold fell through $1600 an ounce for the first time since August last month and finished trading in February at $1,578, having retreated 12% from a peak just below $1,800 back in October. The gold price fell 5% in February alone as demand for the safe haven metal declined amid signs of a turn in the economic cycle and positive gains for stock markets around the globe, continuing a trend seen in the final quarter of 2012. Gold ETFs - a key driver of the gold price - have seen massive outflows in February, with SPDR Gold Trust (GLD), the world's largest gold ETP, on track for its l...

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