Telegraph: "Gold posted its worst quarterly performance in more than a century for the three months to the end of July, analysts at Macquarie calculate. Specifically, the metal ended the second quarter of 2013 at $1,192 (£782) an ounce, its lowest since August 2010 and representing a fall of more than 25pc below its level at the start of the quarter.
The slide came as investors increasingly turned to equities, lured by the prospect of a yield and reassured by improving economic data to move away from the “safe haven” metal.
The price move downwards then accelerated as Ben Bernanke, the Federal Reserve chairman, last month set out a timetable for unwinding the US central bank’s vast quantitative-easing (QE) programme — making gold less attractive as an inflation hedge.
But now analysts are starting to suggest that the gold price may be bottoming out, or at least be close to that point. Outflows from exchange traded funds (ETFs) have started to ease, but the gold price still remains near lows at $1,214 an ounce."
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