Gold set for biggest yearly loss for three decades

Gold is on course to record its worst year for more than three decades following huge falls over 2013.

The precious metal has fallen 30% in value during 2013, from a peak of $1,693 in January to a low of $1,188 in December. It has climbed marginally off lows in the last few sessions, currently trading at $1,204, but unless it stages a massive rally in the next two days it will have seen its worst year in terms of performance since 1981. Throughout the year, the improvement in the global economy has pushed the price of gold down as investors ditched the precious metal - which pays no yield - in favour of equities. The decision by the U.S. Federal Reserve to begin tapering its $85 bil...