It's official, gold is in recession. Here's why

By Frik Els

The gold price dropped back through the $1,600 an ounce level on Thursday, the last trading day of the first quarter.

Gold is down more than $80 or 4.8% in 2013 following a 5.3% pullback in the final quarter of last year.

The yellow metal’s performance marks the first back-to-back quarterly loss …read more