Gold sets for worst quarterly result since 2001

Source: Bloomberg
Gold was little changed on Friday set for its worst result in a quarter since 2001 as concerns about the Eurozone's debt crisis were eased after banks in Cyprus reopened reducing the demand for precious metals as a store of wealth. Bullion for immediate delivery was traded at $1596.50 an ounce falling from yesterday's level of $1596.83 an ounce, however, it has dropped 4.7% this quarter.

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