Perth Mint’s physical gold sales up almost 70%
Demand for gold in the form of coins and minted bars from The Perth Mint took off during March.
The Mint shipped 121,997 troy ounces (oz) of physical gold products worldwide, a 68% lift on the previous month’s figure of 72,651oz.
Meanwhile, sales of the Mint’s silver coins remained buoyant, accounting for 1,649,634oz in March, compared to 1,632,323oz a month earlier.
General Manager Minted Products, Neil Vance said that demand for silver coins remained in a holding pattern. “As in recent months, there was demand for everything we could make during March,” he said.
With more gold product available, however, the Mint was able to answer the call from its international wholesale clients for additional supplies.
“Amid the Russia Ukraine crisis and its associated gold price volatility, it was no surprise to see a further increase in interest for our physical gold products – particularly from Europe,” he said.
“With good stocks of 1oz Australian Kangaroo gold coins and a growing inventory of fractional sizes, we were able to significantly increase the number of ounces shipped compared to February.”
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.
Gold market report – Q3 2022
Demand for gold coins and bars rose 36% year-on-year (YoY) in Q3 2022, the World Gold Council (WGC) has reported.