Perth Mint ETF holdings hit all-time highs in October

Nov 3, 2021

ETFs all time highs

Summary

  • The Perth Mint sold 59,750 troy ounces of gold and 1,352,275 troy ounces of silver in minted product form during October.
  • The Perth Mint Depository holdings of gold fell by 1% during October, while holdings of silver were flat.
  • The Perth Mint’s ASX listed ETF, ASX:PMGOLD, saw holdings rise by more than 2,500 troy ounces (1.15%) for the month.

Precious metal prices rallied during October, led by silver, which was up by more than 10% in US dollar terms. Gold prices also rose, finishing the month up 1.50%, though the precious metal was unable to hold above the critical  USD 1,800 per troy ounce.

Manager, Listed Products and Investment Research, Jordan Eliseo said: “While fears of higher inflation are supporting gold, surging equity markets, a strong end to the month for the US dollar, and expectations the US Federal Reserve will soon begin to taper asset purchases continue to act as headwinds.”

Minted Products

The Perth Mint saw a decrease in minted product sales, selling 59,750 troy ounces of gold and 1,352,275 troy ounces of silver in minted product form during October.

The table below highlights how these numbers compare to sales seen one month, three months and one year ago, and against monthly average sales dating back to mid 2012.

Current month sales of gold and silver sold as coins and minted bars - Change relative to prior periods

Precious metal

October sales (troy ounces)

1 month

3 month

1 year

Long-term average

Gold

59,750

-39%

-15%

56%

25%

Silver

1,352,275

-24%

4%

10%

44%

Gold in particular saw a notable decrease in demand, though sales for both precious metals remaining comfortably above long-term averages, demonstrating the continued support for precious metal investment in the market today.

Troy ounces of gold and silver sold as coins and minted bars - December 2018 to october 2021

Troy ounces of gold and silver sold as coins and minted bars- December 2018 - October 2021

General Manager Minted Products, Neil Vance reported that distributor demand for Perth Mint physical gold bullion had quietened somewhat since September when it launched a new design for the popular Australian Lunar Series.

“While monthly volumes were high by historical standards, October sales of gold coins reflected more subdued demand in key markets such as Europe and the US,” he said.

Meanwhile, silver coin sales continued the strong performance seen since the start of FY 2021/22. “With inventories reserved for the new coin launches exhausted in the previous month, October silver sales reflected our factory’s full monthly output,” he explained.

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.

The Perth Mint Depository

Total gold holdings in The Perth Mint Depository fell by 1% during October, while holdings of silver were static. Over the last 12 months, total holdings of gold and silver have increased by 4% and 1% respectively, with inflows slowing after the surge in demand seen from late 2018 to late 2020.

total troy ounces of gold and silver held by clients in the perth mint depository - june 2018 - october 2021

Total troy ounces of gold and silver held by clients in The Perth Mint Depository - June 2018 to October 2021

The Perth Mint Depository enables clients to invest in gold, silver and platinum, with The Perth Mint storing this metal in its central bank grade vaults. Operated via a secure online portal, a Depository Online Account allows investors to buy, store and sell their metal 24/7. For further information visit perthmint storage pages.

Perth Mint Gold (ASX:PMGOLD)

Total holdings in Perth Mint Gold (ASX:PMGOLD) rose by more than 2,500 troy ounces (+1.5%) in October, with investors taking advantage of lower Australian dollar gold prices to add to their positions. The increase brings total holdings in PMGOLD to 237,244 troy ounces (7.38 tonnes) of gold, a new all-time high.

Monthly change in troy ounces held by clients in perth mint gold (ASX:PMGOLD) - January 2015 to october 2021

Oct 21 PMGOLD holdings edited

Despite the inflows, a gold price fall of just over 3% in Australian dollar terms during October saw the total value of PMGOLD holdings fall to AUD 556 million.

To learn more about investing in PMGOLD, download our PMGOLD Factsheet.

The Perth Mint offers many ways to invest in gold

Bullion bars and coins are not the only option for investors. We offer a variety of investment options including online options, exchange traded products and a digital app.

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