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Gold Loses Luster in Worst Slump Since '84 as Fund Holdings Drop

  • Metal faces tough challenge at start of 2016, Saxo Bank says
  • Silver down for a third year; palladium slid 30% in 2015
Updated on

Gold’s image as a haven asset has taken a battering with the metal capping its longest slump in more than 30 years as investors sold from bullion-backed funds.

Bullion futures fell for a sixth-straight quarter, the longest slump since 1984, and lost 10 percent this year. Prices, which were little changed on Thursday, plunged about 45 percent since reaching a record high in 2011.