Gold Poised for Second Quarterly Loss as Banks in Cyprus Reopen

Market update for Friday, March 29th. Markets are closed today, but it’s good to take a break right? Priced in dollars, the first quarter for gold was not pretty. In fact, the metal has slid nearly 5% since the first of the year – the worst quarterly performance since 2001. Many analysts say gold will need to regain that “fear” or “safe-haven” appeal before it will rise back to where it was. Priced in Euros though, gold did well in March on heels of the banking crisis in Cyprus. Read more….