Gold breaks $1,400 to re-enter bull market territory

Gold has climbed above the $1,400 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 the precious metal has risen more than 20% since its $1,180 intraday low on 28 June to trade at $1,417. A 20% rise or more in an asset price is the generally accepted definition of a bull market. The precious metal's surge comes despite the Federal Reserve's suggestion it will go ahead with QE tapering as planned, as recent US data has come in below expectations. Industrial production and new home sales last week and durable goods orders on Monday suggest the recovery in the US is moving more slowly than expected, which economists say could persuade the Fed to postpone ta...