Physical bullion sales end May on a high

Jun 8, 2022

The Perth Mint gold and silver bullion coin sales

  • The Perth Mint sold 98,515 troy ounces (oz) of gold and 2,217,582 oz of silver in minted product form during May.
  • The Perth Mint depository increased total gold holdings by 0.31% and silver by 0.18% during the month.
  • The Perth Mint listed ETF, ASX:PMGOLD experienced negative growth, down 0.23% in May.

Gold began May sitting above USD 1,920/oz. But downward momentum in the first half of the month saw the price break below its 200-day moving average to an intramonth low of USD 1,809.50.

Subsequently, gold regained some of its losses to finish May around USD 1,838, an overall monthly decline of -3.8%. The trading pattern was similar in Australia, with the local price closing at AUD 2,563 AUD for the month, an overall decline of -4.8%.

The rising US dollar and higher interest rates weighed on gold in early May. ETF outflows contributed to weaker momentum while a low level of net long positions on COMEX reflected antipathy towards bonds even though some thought inflation may be peaking. Silver’s losses for the month brought the gold silver ratio to just under 84.

Minted products

The Perth Mint sold 98,515oz of gold and 2,217,582oz 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, 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

One month%

Three months %

12 months %

Long-term average

Precious Metal

Gold

Current month

98,515

One month%

22%

Three months %

36%

12 months %

8%

Long-term average

97%

Precious Metal

Silver

Current month

2,217,582

One month%

5%

Three months %

36%

12 months %

30%

Long-term average

123%

TROY OUNCES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS May 2019 TO May 2022

TROY OUNCES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS MAY 2019 TO MAY 2022

General Manager Minted Products, Neil Vance said there was no let-up in demand for Australian bullion coins and bars from The Perth Mint during May.

“The upward trend in sales of silver coins has been in play for a few years and orders in May confirmed it is set to continue awhile yet. We’ve been running at maximum output for some months but are always looking for additional manufacturing efficiencies to be able to meet the needs of our distributors worldwide.

“Demand for gold coins was also strong, boosted by the US market where we fulfilled some large orders for fractionals (1/2oz or smaller) during the month.”

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 the bullion web page.

The Perth Mint depository

Total gold holdings in The Perth Mint depository increased by 0.31% while silver rose by 0.18% during May. Over the last 12 months, holdings of gold have increased by 3.66%, while silver holdings are virtually unchanged.

Looking back to May 2019, holdings of gold have increased by approximately 42% and silver by 20%, with the strong growth evident in the chart below.

TOTAL TROY OUNCES OF GOLD AND SILVER HELD BY CLIENTS IN THE PERTH MINT DEPOSITORY May 2019 TO May 2022

TOTAL TROY OUNCES OF GOLD AND SILVER HELD BY CLIENTS IN THE PERTH MINT DEPOSITORY May 2019 TO May 2022

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 the depository web page.

Perth Mint Gold (ASX:PMGOLD)

Total holdings in Perth Mint Gold (ASX:PMGOLD) dropped slightly during May, with holdings down 589oz or -0.23%. The first outflow in eight months brings total holdings in PMGOLD to 259,739oz (8.08 tonnes).

MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD (ASX:PMGOLD) May 2019 TO May 2022

MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD (ASX:PMGOLD) May 2019 TO May 2022

Source: The Perth Mint, ASX, World Gold Council

The total value of PMGOLD holdings ended May was AUD 665 million, with the gold price ending the month trading just above AUD 2,560oz.

To learn more about investing in PMGOLD, visit the PMGOLD page.

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