According to data from The Perth Mint of Australia, there was a slowdown in the sales of Australian bullion in May, as both gold and silver products experienced a decline compared to the previous month. Despite the decrease, the sales reached a high level compared to months earlier in the year.
The Mint’s bullion sales in May were influenced by the decline of precious metals, with LBMA prices (USD) posting a 0.9% decrease for gold and a 6.1% drop for silver.
Perth Mint Gold Bullion Sales in May 2023
During the month, The Perth Mint recorded a 3% decrease in sales compared to the prior month, with a total of 72,889 ounces of minted gold coins and bars sold.
"Gold continued to hold up well with strong demand in the USA," said Neil Vance, General Manager Minted Products.
The month’s figure does reflect a 26% decrease when compared to the sales recorded in May of the previous year.
In terms of year-to-date sales, the cumulative gold sales amount to 345,232 ounces, marking a 21.7% decrease from the 440,813 ounces sold during the first five months of last year.
Perth Mint Silver Bullion Sales in May 2023
In May, the Mint registered sales of 1,881,001 ounces for silver coins and bars, showing declines of 3.4% from April and 15.2% from May 2022.
"Although silver was down 3% for the month, our production was at full capacity, and we sold to that capacity for the month," Vance said.
Year-to-date, The Perth Mint’s cumulative sales of silver amount to 8,370,120 ounces, representing a 16.4% drop compared to the 10,006,195 ounces sold in the corresponding period last year.
Monthly Perth Mint Gold and Silver Bullion Sales Since May 2022
Below is a monthly summary of Perth Mint bullion sales from May 2022 to May 2023. 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.
| Perth Mint Bullion Sales (in troy ounces) | ||
|---|---|---|
| Silver | Gold | |
| May 2023 | 1,881,001 | 72,889 |
| April 2023 | 1,947,743 | 75,166 |
| March 2023 | 1,823,096 | 80,541 |
| February 2023 | 1,484,936 | 52,241 |
| January 2023 | 1,233,344 | 64,395 |
| December 2022 | 1,634,751 | 60,634 |
| November 2022 | 1,315,293 | 114,304 |
| October 2022 | 1,995,350 | 183,102 |
| September 2022 | 2,579,941 | 88,554 |
| August 2022 | 1,655,334 | 84,976 |
| July 2022 | 2,465,513 | 79,305 |
| June 2022 | 1,523,765 | 65,281 |
| May 2022 | 2,217,582 | 98,515 |
Kaiser, have you ever purchased a coin from The Perth Mint? I have a few of the kilo Kookaburra coins and they look like Proof coins. I bought them for the silver, it was selling for about $15/oz then, but was so impressed with the quality of the coins that I decided to just keep them. There’s nothing shoddy about those mints down under!