Gold Posts Worst Quarter On Record

Gold surged more than 2 per cent on Friday on end-of-quarter short-covering, but bullion still posted its largest quarterly loss in at least 45 years due to sell-off amid fears the U.S. Federal Reserve may wind down its stimulus program. Spot gold was up 2.2 percent at $1,226.46 an ounce, rebounding sharply from a low of 1,180.71 an ounce, which marked the cheapest price since August 2010. (Agency)