Gold Snaps Annual Winning Streak, Silver Tumbles in 2013

by CoinNews.net on December 31, 2013 · 6 comments

Gold bars in layers

Gold and silver prices tumbled in 2013, though U.S. Mint gold and silver bullion coins surged

Gold futures fell on the last trading day of 2013, registering yet one more day of losses that have piled up for the year to 28.3%. The annual decline is the biggest in 32 years and the first since 2000.

Gold for February delivery on Tuesday dipped $1.50, or 0.1%, to settle at $1,202.30 an ounce on the Comex division of the New York Mercantile Exchange. In dollars, gold futures plummeted $473.50 in 2013. Gold prices advanced 7% in 2012.

"Many of the fundamental factors that were drivers of the gold price over the past few years have mitigated substantially and taken the ‘fear’ premium down significantly," wrote Peter Hug, global trading director at Kitco Metals Inc. "But the risks ahead, certainly do not, in my mind, create a ‘Pollyanna’ attitude," he added.

Silver was the worst performer on the day and for the year. Silver for March delivery closed at $19.37 an ounce, falling 24.5 cents, or 1.3%. Its 2013 decline totaled $10.86, or 35.9%. In contrast, silver prices surged 8.3% in 2012.

In other precious metals futures on Tuesday:

  • April platinum added $6.60, or 0.5%, to finish at $1,373.80 an ounce. The PGM fell $168.60, or 10.9%, in 2013.

  • Palladium for March delivery rose $7.50, or 1.1%, to end at $718.30 an ounce. Palladium was the outlier in precious metals this year, rising $14.95, or 2.1%.

The following grid shows the net percentage changes in New York precious metals futures for December, each of the four quarters, and for the year.

New York Precious Metals Gains / Losses (%)
December 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual
Silver -3.9 -6.3 -23.3 11.5 -10.8 -35.9
Gold -3.3 -4.8 -31.3 8.4 -9.4 -28.3
Platinum 0.4 2.1 -14.9 5.4 -2.7 -10.9
Palladium -0.2 9.2 -14.0 10.1 -1.2 2.1

 

London Fix Precious Metals

London precious metals fixings were mixed Tuesday with all but platinum lower. In contrasting the London fix prices from Monday PM to Tuesday AM:

  • Gold fell $3, or 0.3%, to $1,201.50 an ounce,
  • Silver lost 15 cents, or 0.8%, to $19.50 an ounce,
  • Platinum added $1, or 0.1%, to $1,358 an ounce, and
  • Palladium dropped $5, or 0.7%, to $711 an ounce

The following grid shows the net percentage changes in London precious metals for December, each of the quarters in 2013 and for the year.

London Precious Metals Gains / Losses (%)
December 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual
Silver -4.1 -4.0 -34.1 15.0 -10.1 -34.9
Gold -2.2 -4.4 -25.4 11.3 -9.4 -27.8
Platinum -1.3 3.5 -16.4 7.1 -3.8 -10.8
Palladium -1.8 10.2 -16.5 12.9 -2.1 1.7

 

Annual performances for London bullion over the last 13 years follows.

2000-2013 Gold Prices and Annual Gains / Losses
Year Price $ Annual Gain % Annual Gain
2000 $272.65
2001 $276.50 $3.85 1.41%
2002 $342.75 $66.25 23.96%
2003 $417.25 $74.50 21.74%
2004 $435.60 $18.35 4.40%
2005 $513.00 $77.40 17.77%
2006 $635.70 $122.70 23.92%
2007 $836.50 $200.80 31.59%
2008 $865.00 $28.50 3.41%
2009 $1,104.00 $239.00 27.63%
2010 $1,410.25 $306.25 27.74%
2011 $1,574.50 $164.25 11.65%
2012 $1,664.00 $89.50 5.68%
2013 $1,201.50 -$462.50 -27.79%

 

2000-2013 Silver Prices and Annual Gains / Losses
Year Price $ Annual Gain % Annual Gain
2000 $4.58
2001 $4.52 -$0.06 -1.20%
2002 $4.67 $0.15 3.21%
2003 $5.97 $1.30 27.87%
2004 $6.77 $0.81 13.50%
2005 $8.83 $2.06 30.43%
2006 $12.90 $4.07 46.09%
2007 $14.76 $1.86 14.42%
2008 $10.79 -$3.97 -26.90%
2009 $16.99 $6.20 57.46%
2010 $30.63 $13.64 80.28%
2011 $28.18 -$2.45 -8.00%
2012 $29.95 $1.77 6.28%
2013 $19.50 -$10.45 -34.89%

 

2000-2013 Platinum Prices and Annual Gains / Losses
Year Price $ Annual Gain % Annual Gain
2000 $611.00
2001 $477.00 -$134.00 -21.93%
2002 $598.00 $121.00 25.37%
2003 $814.00 $216.00 36.12%
2004 $859.50 $45.50 5.59%
2005 $964.00 $104.50 12.16%
2006 $1,117.00 $153.00 15.87%
2007 $1,529.00 $412.00 36.88%
2008 $899.00 -$630.00 -41.20%
2009 $1,466.00 $567.00 63.07%
2010 $1,731.00 $265.00 18.08%
2011 $1,381.00 -$350.00 -20.22%
2012 $1,523.00 $142.00 10.28%
2013 $1,358.00 -$165.00 -10.83%

 

2000-2013 Palladium Prices and Annual Gains / Losses
Year Price $Annual Gain % Annual Gain
2000 $954.00
2001 $440.00 -$514.00 -53.88%
2002 $233.00 -$207.00 -47.05%
2003 $193.00 -$40.00 -17.17%
2004 $184.00 -$9.00 -4.66%
2005 $253.00 $69.00 37.50%
2006 $324.00 $71.00 28.06%
2007 $370.00 $46.00 14.20%
2008 $183.50 -$186.50 -50.41%
2009 $402.00 $218.50 119.07%
2010 $791.00 $389.00 96.77%
2011 $636.00 -$155.00 -19.60%
2012 $699.00 $63.00 9.91%
2013 $711.00 $12.00 1.72%

 

US Mint Bullion Sales in December

Demand surged this year for all U.S. Mint bullion products. In annual sales comparisons between 2013 and 2012:

  • 22-karat American Eagle gold coins reached annual sales of 856,500 ounces in 2013 compared to 753,000 ounces in 2012. The U.S. Mint will begin accepting orders from its distributors for its 2014-dated Gold Eagles on Jan. 2, 2014.

  • 99.9% pure American Eagle silver coins hit 42,675,000 in 2013 — an all-time annual sales record — versus 33,742,500 in 2012. The 2012-dated Silver Eagles sold out on Dec. 13. The U.S. Mint will begin accepting orders for the 2014-dated Silver Eagles on Jan. 13, 2014.

  • 24-karat American Buffalo gold coins achieved annual sales of 239,000 in 2013 compared to 132,000 in 2012. The U.S. Mint will begin taking orders from its distributors for its 2014-dated Gold Buffalo coins on Jan. 2, 2014.

  • 99.9% pure America the Beautiful Five Ounce Silver Bullion Coins achieved annual sales of 223,100 units in 2013 against the 118,100 units 2012. The first 2014-dated ATB coin is expected out in late January.

Here is a breakdown of U.S. Mint bullion sales for the year:

American Eagle and Buffalo Bullion Sales (# of coins)
Tuesday / Week-To-Date Sales Last Week December Sales Annual Sales
$50 American Eagle Gold Bullion Coins 0 17,000 53,500 743,500
$25 American Eagle Gold Bullion Coins 0 0 0 58,000
$10 American Eagle Gold Bullion Coins 0 0 4,000 122,000
$5 American Eagle Gold Bullion Coins 0 0 15,000 535,000
$50 American Buffalo Gold Bullion Coins 0 0 7,000 239,000
White Mountain 5 oz. Silver Bullion Coins Sold Out 4,300 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 30,000
Great Basin 5 oz. Silver Bullion Coins 30,000
Fort McHenry 5 oz. Silver Bullion Coins 30,000
Mount Rushmore 5 oz. Silver Bullion Coins 35,000
American Eagle Silver Bullion Coins 1,200,000 42,675,000

 

{ 6 comments… read them below or add one }

Kevin January 1, 2014 at 1:15 am

JPM sells short paper silver contracts to drive down the price. At the same time they buy all the physical silver they can at bargain prices, according to Ted Butler. And govt officials have been informed for years of this chicanery.

JPM is now long gold. Can’t wait until they and China have “enough” of both metals. Then the price will launch and not look back.

Blue January 1, 2014 at 7:47 am

How about a graph showing 2000-2013 Gold Prices and Annual Gains/Losses.

Blue January 1, 2014 at 7:49 am

How about a grid showing 2000-2013 Gold Prices and Annual Gains/Losses.

Mike Unser January 1, 2014 at 10:38 am

Blue, we added grids for London bullion fixings from 2000-2013.

Blue January 1, 2014 at 1:45 pm

Thanks CoinNews. You ROCK!!!

RonnieBGood January 3, 2014 at 12:10 pm

Happy Holidays fellow collectors!
Gold has held to approx. $1,200 a Troy oz.
As calculated for inflation and QE to QE3 for the real valuation of Gold to US dollar.
As the saying goes: Buy Low – Sell High.
This is the bottom ladies and gentlemen.
Time to Buy ;-$

Leave a Comment