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Market Chatter: Gold Declines in Worst Run Since 2001 on Record Drop in ETPs

"Gold declined, heading for a second quarterly fall, as holdings in exchange-traded products slumped by the most on record and investors weighed the euro-area's debt crisis against prospects for a U.S. recovery," Bloomberg reported.

It said: "Holdings in ETPs contracted 6.9% this quarter amid speculation that the U.S. Federal Reserve will rein in stimulus. The U.S. Dollar Index, a gauge against six major counterparts, rose 4.1% this quarter, the biggest gain since the three months ended September 2011, amid signs the U.S. economy is improving. Cyprus's banks opened for the first time in almost two weeks."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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