Gold’s worst start to a year in a quarter century and the biggest sales by investors on record are increasing concern that bullion’s longest rally since the end of World War I is ending.
Investors sold 106.2 metric tons valued at $5.4 billion fromexchange-traded productsin February, the most since their creation in 2003, data compiled by Bloomberg show. Another 26.1 tons was cut since then. Credit Suisse Group AG and Barclays Plc say the 12-year rally will peak in 2013 and billionaireGeorge Sorosreduced his stake in the biggest ETP by 55 percent in the last quarter. Prices are within 4 percent of abear marketafter the longest run of monthly losses since 1997.