Mint’s precious metal sales temper as market calms

The Perth Mint sold 28,244 troy ounces (oz) of gold and 496,707 oz of silver in minted product form during May 2025.

Opening the month around USD 3,250, gold prices softened early as investor confidence lifted on the back of positive trade sentiment and reduced market volatility. For the remainder of the month gold traded within a wide range of USD 3,100 to USD 3,400. Price movements largely followed shifts in sentiment: when trade tensions and uncertainty flared up, investors returned to gold; when things looked more stable, attention turned back to equities and other assets. After a choppy month gold finished with only a modest gain up 0.30% for May.

In Australian dollar terms, gold tracked the same international sentiment and volatility, trading both above and below the AUD 5,000 mark throughout the month. A slightly stronger Australian dollar contributed to a marginal pullback in the local gold price, which closed May around AUD 5,140.

Silver followed a similarly volatile path, initially climbing before dipping mid-month and rebounding into the close as factors relating to the strength of the overall global economy weighed heavily on silver. It ended May above USD 33 recording a gain of more than 2% for the month.

The silver price in Australian dollar terms was higher in the month of May though the stronger AUD exchange rate tempered some of the gains.

The Gold Silver Ratio was near 100 at the end of month, hovering between 97.24 and 103.67 in May.

Minted products

The Perth Mint sold 28,244 oz of gold and 496,707 oz of silver in minted product form during May.

The table below highlights how these numbers compare to sales seen one month, three months and one year ago.

MAY 2025 SALES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS (TROY OUNCES) AND CHANGE (%) RELATIVE TO PRIOR PERIODS.

The Perth Mint’s General Manager Minted Products, Neil Vance, noted the softened demand in May.

“Precious metal markets naturally ebb and flow, but what remains constant is the trust our customers place in the quality and craftsmanship of our Minted Products.”

The Perth Mint manufactures and markets the Australian Precious Metal Coin and Minted Bar Program. Trusted worldwide for their purity and weight, the coins include annual releases of the renowned Australian kangaroo, kookaburra, koala, and lunar series. In addition, periodic releases and series offer investors a choice of alternative design themes. Learn more about The Perth Mint’s upcoming releases.

Bullion coins released in May 2025 

• 225^th Anniversary of Australian Proclamation Coins - Pillar Dollar 2025 1oz Gold Bullion Coin
• 225^th Anniversary of Australian Proclamation Coins - Pillar Dollar 2025 1oz Silver Bullion Coin
• Australian Emu 2025 1oz Gold Bullion Coin
• Australian Emu 2025 1oz Silver Bullion Coin
• 2025 Chinese Myths and Legends Double Phoenix 1oz Silver Bullion Coin
• Australian Kookaburra 2025 1/10oz Gold Bullion
• Australian Kookaburra 2025 1/10oz Platinum Bullion

Please note: The figures stated in this article are for total monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide during May 2025. They exclude sales of cast bars and other activities including sales of allocated/unallocated precious metals for storage by The Perth Mint Depository.

Perth Mint Gold Structured Product (ASX:PMGOLD)

Perth Mint Gold Structured Product is a low-cost exchange traded product (ETP) that allows investors to trade in gold via a stockbroking account as they would shares on the ASX. To learn more, visit the PMGOLD webpage.

Total holdings in Perth Mint Gold Structured Product (ASX:PMGOLD) decreased marginally during May with holdings down by 1,422 oz (-0.46%). This brings total holdings in PMGOLD to 308,899 ounces (9.61 tonnes).

MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD STRUCTURED PRODUCT (ASX:PMGOLD) MAY 2022 TO MAY 2025