Silver Bullion Trust announced unaudited earnings results for the full year ended December 31, 2013. For the full year, the company reported total loss of USD 32,853,937 compared to total income of USD 5,572,302 a year ago. Net loss inclusive of the change in unrealized appreciation of holdings was USD 33,226,562 or USD 6.08 per unit compared to net income inclusive of the change in unrealized appreciation of holdings of USD 5,121,986 or USD 0.94 per unit a year ago.

Virtually all of this decrease was a result of the change in unrealized appreciation of holdings which resulted from a lower silver price during the year as compared to the prior year. Net asset value per unit was USD 11.40 as on December 31, 2013 against USD 17.48 as on December 31, 2012.