2014

It was a choppy end to 2013 as metals saw a broad based decline over the year of 28%. Precious metals have succumbed to selling pressure as Exchange Traded Funds (ETF) holders liquidated in favour of equities.  ETF holdings have fallen back to levels last seen in 2008 before the global crisis. Investors lost faith in the metal as a store of value as equities rallied and an economic recovery prompted the Federal Reserve to pare its $85 billion in monthly bond. Gold fell to a year low of $1182, before recovering slightly to traded and close the year at $1202.