Big drop for bullions

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Capital Market
Last Updated : Dec 31 2013 | 11:55 PM IST

Bullions looking at their worst yearly losses since 2014

Gold and silver future prices fell on Monday, 30 December 2013 at Comex with both metals looking at their worst yearly losses in at least 30 years.

Gold for February delivery fell $10.20, or 0.8%, to settle at $1,203.80 an ounce on the New York Mercantile Exchange.

March silver futures fell 35 cents, or 1.7%, to $19.70 an ounce.

It has been a brutal year for gold, with the continuous contract on the metal down 28% since 1 January 2013. Silver has declined even more, dropping 35% since the start of the year. Those are the worst yearly percentage losses for each metal since at least 1984.

Trading is likely to remain thin with many investors still on holiday. Monday's only piece of major economic data did little to shift prices.

Today's economic data at Wall Street was limited to November Pending Home Sales, which ticked up 0.2% while the consensus expected an increase of 1.5%.

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First Published: Dec 31 2013 | 7:23 AM IST

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