SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
OtherJan 20, 2014
Gold, silver prices to fall in 2014
The per-ounce price of gold and silver both will decline more than 10 percent year-over-year in 2014 while labor issues and automotive demand are expected to push up the price of platinum slightly, analysts say.
New York--The per-ounce price of gold and silver both will decline more than 10 percent year-over-year in 2014 while labor issues and automotive demand are expected to push up the price of platinum slightly, analysts say.
Last week, Market Watch published an analysis of gold price forecasts for 2014 from six banks: Bank of America Merrill Lynch, Barclays, Deutsche Bank, HSBC, J.P. Morgan and UBS.
The banks’ predictions for 2014 work out to an average per-ounce price of $1,209 for gold in 2014, down 15 percent from about $1,400 an ounce in 2013.
A similar consensus of nearly 30 analysts compiled by the London Bullion Market Association pegs gold at an average of $1,219 an ounce in the coming year, a 13 percent drop.
London-based analyst Andrew Leyland, the manager of precious metals demand at Thomson Reuters GFMS, said the price estimate for the next 11 months is very similar to what the actual price of gold is right now, which was $1,242 an ounce as of press time, according to Kitco.com.
“What the market is saying there is that the gold price is entering into a period of consolidation,” he said.
After dropping in 2013, gold prices are expected to stabilize this year because they are now being driven by physical demand instead of institutional investment, which tends to be a more volatile driver of price, he said.
Leyland said gold will hover around the $1,200 mark throughout 2014. He doesn’t see it rallying above $1,500 and, while it could dip below $1,000 an ounce briefly, it won’t stay there long, as jewelry demand will be enough to buoy it.
“Could the price dip below that ($1,200 an ounce)?” Leyland said. “We believe it can and it probably will but not for a sustained period of time.”
As reported in November, the per-ounce price of silver also will drop in 2014.
Leyland said Tuesday that Thomson Reuters GFMS predicts the price of silver will drop 20 percent in 2014 to $19 an ounce, driven by a decline in physical demand as more companies return to using gold.
The London Bullion Market Association’s forecast for silver in 2014 is $19.95 per ounce, down 19 percent from an average per-ounce price of $23.79 in 2013.
Leyland said when gold was $1,500 or $1,600 an ounce, many companies simply could not afford to use the metal and substituted silver.
Now there will be a return to gold, though he notes the jewelry industry won’t abandon silver entirely. Even at $1,200 an ounce, the price of gold is still considerably higher than it was prior to the recession.
While gold and silver prices are forecast to drop in 2014, platinum prices are expected to increase slightly, due to solid automotive demand worldwide and supply disruptions resulting from strikes in South Africa.
Thomson Reuters GFMS pegs the average annual price of platinum at $1,550 in 2014, a 4 percent year-over-year increase.
The consensus forecast from the London Bullion Market Association is slightly less bullish, at $1,490, up less than 1 percent from $1,487 last year.
Despite the slight increase in the platinum price, Leyland said the underlying tone for the jewelry industry in 2014--in gold, silver and platinum--is “relatively positive” due to improving economies around the globe.
More on Other
The Latest
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
