Amidst write downs, commodity price drops and lower revenues, gold, silver and copper were the hardest hit metals this year and will continue to struggle in 2014, reveals the latest report published by PWC.
In its Gold, silver and copper report 2014, the research firm says that while bullion prices have been the “big mining story” of the year, the metal wasn’t the worst performing. The title, they say, goes to silver, which prices plummeting 40% in 2013.
Gold prices, which surpassed $1,900 per ounce in 2011, fell to around $1,200 this summer and they are currently hovering not far above that. Dr. Copper, meanwhile, gave clear signs of an ailing industry, falling fro...
There’s a silver lining to the beating gold took this year: sidekick silver suffered the worst slump of any other metal in 2013.
“Silver has had a terrible year,” says PwC Canada’s year-end mining report Metals Mired in Global Uncertainty.
Known as “poor man’s gold”, the lower-profile metal – used in everything from the auto industry to electronics and jewelry – has tumbled 40 per cent compared to a 30 per cent price drop in bullion, notes the annual study released Monday.
Silver started 2013 trading at $32 per ounce but sank to a low of $18.60 by mid-year. That’s a complete reversal from 2012, when silver was the best-performing metal overall, rang...
The price of gold is on track for its largest annual fall in 30 years after declining 27% in the last 12 months. The drop has resulted in a bludgeoning in the share price of Australia?s listed gold miners.
Newcrest Mining (ASX: NCM), which was worth $24 per share at the start of this year is now able to be picked up for just $7.20 — down 70%. Silver Lake Resources (ASX: SLR) has lost almost 90% of its value to sit at $0.39.
Investors have been truly hung out to dry. But is there more pain to come, or will prices bounce back and ?revert to mean??
Unfortunately current signs suggest that gold prices will remain at or below current levels going into 2014. According ...
Analysts say prices could fall further, though the downside is limited to 10 per cent
Silver prices have been uncharacteristically volatile in the past three months. After a sharp rally in August, which saw prices rise 30 per cent in three weeks, the white metal has cooled down and is currently trading at Rs 44,015 per kg. Global silver prices have slumped 37 per cent so far this year, their biggest annual drop in at least three decades.
The recent drop in domestic silver prices is largely due to a sharp 40 per cent rise in silver imports during October. Analysts expect India's silver imports to be 5,200-5,400 tonnes by the end of the year. This would be more than I...
The market price of gold may have fallen during the year, but hoarding of the precious metal by central banks and private individuals is approaching record levels.
In trading terms, it has been a tough year for the yellow metal. The price of gold has fallen 28pc during the past 12 months. However, the fundamentals, characteristics and attractions of gold are undiminished because we remain in times of extreme intervention by governments around the world, the outcome of which is completely unknown.
The first rule of investment is preservation of capital. The second is to go searching for gains or income that fits with your appetite for risk. Gold has b...
Gold and silver have a 6,000 year history for their use as a currency, and until the last century, the price of gold and silver maintained a healthy valuation ratio of 1 ounce of gold to every 15 ounces of silver.
This purchasing power ratio is strengthened by the fact that there are 17 ounces of silver for every 1 ounce of gold in the earth's crust, although physical silver stocks have dwindled as the metal is used in a wide variety of industrial applications.
It has long been said that an ounce of gold will buy a custom tailored men's suit. In the 1930s, an ounce of gold cost $35, and a suit was nearly the same price.
Today, gold trades for just under $1,300 a...
The world's most valuable jewellery retailer Chow Tai Fook, which counts Cartier and Tiffany & Co as competitors, is on a quest to conquer the hearts of China's future big spenders. Its weapons of choice: Hello Kitty and Winnie the Pooh.
Superman and the Angry Birds team also feature in Chow Tai Fook Jewellery Group's range of fashionable, and affordable, pieces which the company hopes will win over the millions of Chinese who live outside major cities but who are reaping the benefits of a rapidly growing economy and who remain enamoured by the gleam of gold.
"We are quite similar to the fast fashion way of business in that our products are only available for a ...