Spring rally for gold could be in the cards following worst two-year performance in three decades

Gold-related equities have slumped during the past few years

After suffering its worst two-year performance in more than three decades, gold could be set for a spring rally because of a more dovish-than-expected policy statement from the U.S. Fed and new import rules in China.

The precious metal has had two straight years of annual declines, and it is weakness has been exacerbated with a surging U.S. dollar, that is near its highest level since 2003.

But the Fed’s announcement on Wednesday that it\’ll potentially begin rate of interest hikes later than expected and increase rates more gradually is welcome news for gold bulls.

Gold futures on Wednesday were up for any second straight day, gaining 1.5% to US$1169.10 an oz.

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