Perth Mint gold sales soar during November

Dec 6, 2021

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About the Author

Jordan Eliseo Headshot

Jordan Eliseo, Manager Listed Products and Investment Research

Summary

  • The Perth Mint sold 115,872 troy ounces of gold and 1,530,598 troy ounces of silver in minted product form during November.
  • The Perth Mint Depository holdings of gold and silver were flat during the month, though are still positive on a year-on-year basis.
  • The Perth Mint’s ASX listed ETF, ASX:PMGOLD, saw inflows of more than 5,000 troy ounces for the month, with total holdings hitting a new all-time high.

Manager, Listed Products and Investment Research, Jordan Eliseo said: “Gold prices rose during November, though the ride was volatile, with the precious metal trading in a more than USD 100 per oz range. Higher inflation, with official CPI rates in the United States now topping 6%, continue to support gold, while fears over a pending taper of asset purchases from the US Federal Reserve are acting as a short-term headwind.”

Minted Products

The Perth Mint saw a large increase in sales during November, selling 115,872 troy ounces of gold as well as 1,530,598 troy ounces of silver in minted product form.

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

November sales (troy ounces)

1 month

3 months

1 year

Long-term average

Precious metal

Gold

November sales (troy ounces)

115,872

1 month

94%

3 months

115%

1 year

38%

Long-term average

139%

Precious metal

Silver

November sales (troy ounces)

1,530,598

1 month

13%

3 months

4%

1 year

37%

Long-term average

62%

Gold in particular saw a notable increase in demand, with 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 November 2021

Graph 1

General Manager Minted Products, Neil Vance said: “Two factors underscored rising gold coin sales. A general pick-up in the appetite for physical gold coincided with the release of The Perth Mint’s 2022-dated Australian Kangaroo series. The response from our global distribution network was outstanding with demand particularly strong for 1oz, 1/2oz, 1/4oz and 1/10oz denominations.” He added: “It was another great month for silver with our factory producing as much as possible to meet demand.”  

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 November. Over the last 12 months, total holdings of gold and silver have increased by 5% 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 to November 2021

Graph 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 inflows of more than 5,000 troy ounces in November (+2.3% for the month), with total holdings hitting a new all-time high above 240,000 ounces. Investors have now increased holdings for three months straight, with the inflows in November the highest seen in any month during 2021.

Monthly change in troy ounces held by clients in Perth Mint Gold (ASX:PMGOLD) January 2015 to November 2021

Graph 3

Source: The Perth Mint, ASX, World Gold Council

The strong inflows, combined with a strong rally in the AUD gold price saw the total value of PMGOLD holdings top AUD 610 million by the end of November, up 10% for the month.

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

DISCLAIMER

Past performance does not guarantee future results. The information in this article and the links provided are for general information only and should not be taken as constituting professional advice from The Perth Mint. The Perth Mint is not a financial adviser. You should consider seeking independent financial advice to check how the information in this article relates to your unique circumstances. All data, including prices, quotes, valuations and statistics included have been obtained from sources The Perth Mint deems to be reliable, but we do not guarantee their accuracy or completeness. The Perth Mint is not liable for any loss caused, whether due to negligence or otherwise, arising from the use of, or reliance on, the information provided directly or indirectly, by use of this article.

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