Gold is set to end a 12-year rally ignited by rock-bottom interest rates and measures taken by central banks to prop up the global economy, which burnished the metal's appeal as a hedge against inflation.
SINGAPORE: Gold ticked down on Monday, heading for its biggest annual loss in more than three decades at nearly 30%, as firm equities and the prospect of a recovery in the global economy stole its shine.
Bullion has been on a roller-coaster trade in 2013. A plunge to a two-year low in April unleashed pent-up demand from retail investors, but prices sank again in June to a near three-year low on worries over a plan by the US Federal Reserve to wind down its monetary stimulus.
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