Bullion demand slowed in June for Australian gold and silver products produced and sold by Australia’s Perth Mint. Looking further ahead, Mint sales split in the first half of 2022 compared to the first half of last year, with silver sales significantly higher and gold sales significantly lower.
The Perth Mint’s bullion gains in June were measured against a third month of declines in precious metals, with LBMA prices slipping 1.2% for gold and 6.2% for silver. Both metals also saw declines in the first half of the year – slightly for gold at 0.2% and severely for silver at 11.6%.
Bullion sales in June and the first half of 2022
The Mint’s gold coin and gold bullion sales in June totaled 65,281 ounces, down 33.7% from May and 10.5% from June 2021.
“We are Australia’s largest exporter to Germany, where there has been a significant slowdown in demand for Australian gold bullion coins. The market there has clearly taken a breather, and that is reflected inevitably in our latest sales figures,” said the general manager of Minted Products. , Neil Vance.
Gold sales in the first half of 2022 at 506,094 ounces are 15.1% lower than the 596,372 ounces sold in the first half of 2021.
Perth Mint’s June sales of minted silver coins and bars stood at 1,523,765, marking declines of 31.3% from May and 16.4% from June 2021.
“Meanwhile, interest in Perth Mint’s silver products has remained high even though these figures show a drop in the number of ounces sold. This is mainly because two large orders shipped during the month fell in the July accounting period,” Vance said.
Silver sales during the first half of 2022 at 11,529,960 ounces are 16.3% higher than the 9,915,637 ounces sold during the first half of last year.
Perth Mint gold and silver sales by month
Below is a monthly summary of Perth Mint bullion sales from June 2021 to June 2022. Figures show monthly ounces of gold and silver shipped as minted commodities by The Perth Mint to wholesale and retail customers of the whole world. It excludes sales of cast bars and other Group activities, including sales of allocated/unallocated precious metals for storage by the Custodian.
|Perth Mint Bullion Sales (in troy ounces)|