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Gold, silver and copper price report 2014

London, 10 December 2013

Amidst write-downs, drop in commodity prices and lower revenues, gold, silver and copper are among the most closely watched metals in the mining sector. They are also some of the hardest hit metals in 2013, according to PwC’s Gold, silver and copper report 2014.

According to the report, gold has been the big mining story of 2013. The metal, which surpassed $1,900 per ounce in 2011, fell to around $1,200 this year. The worst performing metal this year goes to silver — with prices plummeting 40% in 2013. As for copper, prices fell from $3.70 per pound at the start of the year to above $3 currently — becoming the metal that ‘outperformed’ this year.

Gold producers are preparing for another challenging year. Reflecting lower levels of confidence, 47% of gold producers expect the price to increase in the next 12 months, compared to 88% a year ago.

Despite being the worst performing metal this year, silver miners are optimistic for 2014 with only 9% anticipating the price of silver to fall further next year. Copper is expected to be stable with nearly two thirds of respondents (62%), predicting copper prices to remain same in 2014.

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