Perth Mint Silver Bullion Sales Mixed in First Half of 2022

Bullion demand slowed in June for Australian gold and silver products produced and sold by The Perth Mint of Australia. In the longer haul, the Mint’s sales split in the first half 2022 compared to the first half of last year, with silver sales solidly higher and gold sales distinctly lower.

The Perth Mint’s June bullion gains measured against a third month of falling precious metals with LBMA prices slipping 1.2% for gold dropping 6.2% for silver. Both metals also logged declines through the first half of the year — slightly for gold at 0.2% and severely for silver at 11.6%.

Bullion Sales in June and First Half of 2022

June sales of the Mint’s gold coins and gold bars combined to 65,281 ounces, registering declines of 33.7% from May and 10.5% from June 2021.

"We are Australia’s largest exporter to Germany where there’s been a significant slow-down in demand for Australian gold bullion coins. The market there has clearly taken a breather, and this is inevitably reflected in our latest sales figures," said General Manager Minted Products, Neil Vance.

Gold sales through the first half of 2022 at 506,094 ounces are 15.1% lower than the 596,372 ounces sold through the first half of 2021.

Perth Mint sales in June of minted silver coins and silver bars combined to 1,523,765, marking declines of 31.3% from May and 16.4% from June 2021.

"Meanwhile, interest in Perth Mint silver products remained high even though these figures show a drop in the number of ounces sold. This is primarily because two large orders shipped during the month have fallen into July’s accounting period," Vance said.

Silver sales through the first half of 2022 at 11,529,960 ounces are 16.3% higher than the 9,915,637 ounces sold during through 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. The figures show monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.