Gold set for longest losing streak since 1999

Gold is on course to post a fourth straight month of falls in price, the worst run the yellow metal has experienced since the turn of the millennium.

According to Bloomberg data the gold price has fallen 5.3% this month to $1,577 an ounce, with investors moving into cash and US treasuries as fears over the eurozone crisis intensify. Earlier this month gold officially slipped into bear market territory, with future contracts for the metal down 21% from the highs seen last autumn. At today's price of $1,575 it is currently 18% off last September's intra-day high of $1,921. Unless it can reverse this month's losses in the next two days it will have seen its worst stretch since 1999. The decline in the gold price has led analysts...