Gold's magic seen fading after biggest advance since 1980

London

THE world's best-performing commodity this year may be about to lose its monkey magic.

Gold, after posting its biggest rally to start a year since 1980, will drop this month as Chinese consumers slow purchases that surged before the start of the Chinese New Year, according to eight of 12 analysts surveyed by Bloomberg. Prices that touched a seven-month high of US$1,200.97 an ounce on Monday may drop to US$1,100, based on average estimates from seven analysts providing forecasts.