
Towards the end of last year the gold bears were as confident as the US basketball team heading off to the Olympics. And it was easy to see why. Over the past three years gold had gone from being a hedge fund darling to a complete and utter pariah.

Towards the end of last year the gold bears were as confident as the US basketball team heading off to the Olympics. And it was easy to see why. Over the past three years gold had gone from being a hedge fund darling to a complete and utter pariah.