Gold posts worst May performance in 30 years

Gold slid over 6% last month, making it the biggest May loss for the precious metal since a near 10% fall in 1982.

May's losses meant the gold price has now fallen for four consecutive months, the first time this has happened since January 2000. Gold failed to offer safe-haven status for investors and instead moved in tandem with equities, as both the Dow and the Nasdaq dropped more than 6% in May and also logged their worst monthly performance in two years according to Reuters data. The Dow only booked five positive days in May, the last time this occurred was in January 1968. At today's price of $1,553, gold is currently 19% off last September's record high of $1,923. While the possibility...