Gold is down nearly five percent so far this year and if the losses continue, the metal faces the first back-to-back quarterly loss since 2001, which would mark a gold market "recession" according to the conventional definition of two subsequent quarters of negative growth, Mining.com points out.On Thursday, amid a re-opening of Cypriot banks after a two-week hiatus due to the island's financial woes, gold continued to splutter, and by the end of the trading session the overall trend was down. April COMEX gold futures last traded down $11.80 an ounce at $1,594.40 an ounce, while spot gold was last quoted down $10.60 at $1,595.25. Friday is expected to be a quiet day for precious metals with North American markets closed for the Easter holiday.
Gold Price Languishes On Cyprus Calm
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