Gold has climbed above the $1,400 per ounce mark for the first time since June, re-entering a bull market as disappointing US data and worries over Syria push investors into safe havens.
The price of gold has continued its decline, falling below the $1,200 mark on Thursday for the first time since August 2010.
The gold spot price hit a 33-month low today after positive US economic data strengthened the case for a tapering of quantitative easing, further eroding demand for safe havens.
Hedge fund supremo John Paulson has reportedly lost almost $1bn of his personal wealth since the end of last week after the price of gold crashed.
Gold's slide into a bear market has accelerated this morning as prices fell a further 5% to a two-year low of under $1,400.
Royal Skandia has added two precious metals funds to its unit-linked fund range in the Isle of Man.
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.