Gold Prices Recover After Record Quarterly Drop

Gold recovered on Monday after posting over 23 percent loss during the last quarter, amid easing stock market and steadying dollar. The precious metal on Friday closed the second quarter with a 23 percent loss, the worst quarterly decline since modern trading began in the mid-1970’s. Last week, Gold futures plummeted below $1,200 a troy ounce, as U.S. economic data topped analysts’ estimates. However, the recent comments from a U.S. Federal Reserve official on the need to maintain the bank’s stimulus measures for longer, helped gold recover some of the previous week’s losses when it fell 5 percent to three-year…