Silver Prices in 2013 Mark Biggest Annual Decline Since 1981

Silver prices in 2013 plummeted for their biggest annual loss in more than three decades. Declines were joined by most other precious metals.

In closing out the month, quarter and year on Tuesday, Dec. 31, 2013, silver futures for March delivery shed 25 cents, or 1.3%, to $19.37 an ounce on the Comex in New York. And with that settlement, silver prices tumbled 35.9% in 2013 for their biggest annual decline since 1981.

Losses by month double the monthly gains in 2013. Prices dropped 66 cents, or 3.3%, in December, marking a second straight monthly fall. Other monthly declines in 2013 included:

• February at -9.3%,
• March at -0.4%,
• April at -14.6%,
• May at -8%,
• June at -12.5%,
• September at -7.7% and
• November at -8.4%.

Advancing 2013 months included:

• January at 3.7%,
• July at 0.8%,
• August at 19.8% and
• October at 0.7%.

In 2013 quarterly breakdowns, silver futures:

• Fell 6.3% in the first quarter (January – March period),
• Plunged 23.3% in the second quarter (April – June period),
• Advanced 11.5% in the third quarter (July – September period), and
• Lost 10.8% in the fourth quarter (October – December period).

In other New York precious metals futures:

• Gold for February delivery at $1,202.30 an ounce declined 3.9% in December and by 28.3% in 2013.
• Platinum for April delivery at $1,373.80 an ounce advanced 0.4% in December but fell 10.9% in 2013.
• Palladium for March delivery at $718.30 an ounce declined 0.2% in December yet gained 2.1% in 2013.

London Fix Silver Prices

Also on Tuesday, the London silver fix shed 15 cents, or 0.8%, to $19.50 an ounce. The precious metal turned down 2.2% in December and 10.1% for the quarter. It annual decline was at 34.9%.

Rounding out London fix precious metals prices:

• Gold at $1,201.50 an ounce fell 4.1% in December and 27.8% in 2013.
• Platinum at $1,358 an ounce declined 1.3% in December and 10.8% in 2013.
• Palladium at $711 an ounce slid 1.8% in December but gained 1.7% in 2013.

US Mint Sales of 2013 Silver Coins

While silver prices plunged last year, US Mint annual sales surged for American Eagle silver coins at 42,675,000 and for bullion American the Beautiful Five Ounce Silver Coins at 223,100. The Silver Eagle annual sales total is an all-time high.

An in-depth article about US Mint sales of its 2013 silver coins will become available on Silver Coins Today by Friday.