New Delhi, April 10 -- Gold fell 12 per cent in March to USD 4,608/oz, its weakest month since June 2013, according to a report by the World Gold Council (WGC). The precious metal lost value across all major currencies but maintained a positive position for the year.

The council used its monthly Gold Return Attribution Model (GRAM) to identify that much of the decline stemmed from momentum factors, including global gold ETF outflows, a COMEX net long unwind, and a price trend reversal.

"Our monthly attribution model GRAM captured the sentiment - but not the magnitude - of the move, attributing much of the drop to momentum factors: global gold ETF outflows, a COMEX net long unwind and a price trend reversal," the World Gold Council state...