Perth Mint ETF holdings hit record high as silver coin sales soar in January

Feb 9, 2022

2022

Summary

  • The Perth Mint sold 66,709 troy ounces (oz) of gold and a record 2,387,165 oz of silver in minted product form during January.
  • The Perth Mint Depository holdings of gold and silver were flat during the month, with gold holdings +3% over the last 12 months.
  • The Perth Mint’s ASX listed ETF, ASX:PMGOLD, saw strong inflows to start the year, with total holdings rising by more than 5,000 oz (2%) to a new all-time high.

Manager, Listed Products and Investment Research, Jordan Eliseo said:

“It was a volatile start to the year for precious metals, with gold trading in an almost USD 60 oz range between USD 1,790 oz on the downside, and USD 1,850 oz on the upside.”

“Demand was supported by the volatility seen in equity markets, which have started the year with a significant pullback, though a strong US dollar, rising bond yields and the expectation of a faster pace of monetary tightening from the US Federal Reserve, acted as headwinds across the month.”

Minted Products

The Perth Mint sold 66,709 oz of gold and 2,387,165 oz of silver in minted product form in January.

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 (troy ounces) and change (%) relative to prior periods

Precious metal

Current month

1 month

3 months

1 year

Long-term average

Gold

66,709

22%

12%

-12%

37%

Silver

2,387,165

12%

77%

105%

147%

Troy ounces of gold and silver sold as coins and minted bars December 2018 to January 2022

TPM Chart 1

General Manager Minted Products, Neil Vance said demand for Perth Mint silver bullion products was the second highest on record after sales of 3,349,557 oz in September 2015.

“This January we released our 2022 Australian Koala silver bullion coin series and also took first orders for our 1 kilo Lunar Tiger coins.

Both releases are globally popular and contributed heavily to an especially pleasing month, which also reflected a build-up of demand during the Christmas and New Year period at the end of 2021.” 

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. For more product information visit perthmint.com/bullion.

The Perth Mint Depository

Total precious metal holdings in The Perth Mint Depository were flat during January. Over the last 12 months, total holdings of gold increased by 3%, while silver holdings have fallen by 1%.

Since the end of 2018, holdings of the two metals have increased by approximately 40% (gold) and 15% (silver), with the strong growth evident in the chart below.

Total troy ounces of gold and silver held by clients in The Perth Mint Depository June 2018 to January 2022

TPM chart 2

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.com/invest/depository-online.

Perth Mint Gold (ASX:PMGOLD)

Perth Mint Gold (ASX:PMGOLD) saw strong inflows during January, with total holdings increasing by just over 5,300 oz (+2.2%).

Total holdings have now hit a new all-time high of 248,759 oz (7.74 tonnes), with investors increasing holdings in each of the past five months.

Monthly change in troy ounces held by clients in Perth Mint Gold (ASX:PMGOLD) January 2017 to January 2022

TPM chart 3

Source: The Perth Mint, ASX, World Gold Council

The total value of PMGOLD holdings ended January at AUD 637 million, also a new all-time high, with the Australian dollar gold price sitting just above AUD 2,550 oz.

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

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