Gold and resources funds continued to struggle in the first quarter of 2013, as investors remained in risk-on mode and opted for equities over safe havens such as the precious metal.
Gold has been one of the worst performing metals so far this year, declining 5.74% to $1,580 in the three months to the end of March, well below its all-time high above $1,900 seen in September 2011. General mining equities have also had a moderate start to the year, unable to keep up pace with global equity markets as slowing demand in China impacted the outlook for the sector. The FTSE All-Share rose 8.24% in Q1 but miners were one of the worst performing sectors, with the FTSE 350 Mining index returning a paltry 0.28%. However, it is gold mining companies which have fared the wo...
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