Ishares Gold Trust

Gold drifted lower for an eighth session out of nine on Tuesday on outflows from exchange-traded funds and as the dollar firmed, putting more pressure on bullion which has already lost nearly a fifth of its value this year.

Factors from the rising US stock market to Cyprus's announcement that it planned to sell most of its gold reserves, have pushed gold into a bear market, or down more than 20 per cent from its 2011 high.

Gold drifted lower for an eighth session out of nine on Tuesday on outflows from exchange-traded funds and as the dollar firmed, putting more pressure on bullion which has already lost nearly a fifth of its value this year.

Factors from the rising US stock market to Cyprus's announcement that it planned to sell most of its gold reserves, have pushed gold into a bear market, or down more than 20 per cent from its 2011 high.