For the second month in a row, data from The Perth Mint of Australia show mixed demand for Australian bullion in May. In contrast to April, when gold sales accelerated and silver sales slowed, May saw sales of gold products slowing and those of silver rising more quickly.
The Mint’s bullion gains are measured against rising precious metals prices for May, with LBMA prices (in USD) climbing 1.8% for gold and rallying 17.3% for silver.
Perth Mint Gold Bullion Sales in May 2024
In May, the Mint’s sales of gold coins and bars increased by 23,238 ounces, representing decreases of 30.4% from April and 68.1% from the same month last year.
The Perth Mint’s General Manager Minted Products, Neil Vance, said the May results continued the trend of volatility in both gold and silver sales.
"As we have seen in recent times, this instability is a global trend. As the USD gold price has continued to trend higher, we continue to see some resistance from investors but this is inconsistent," he said.
The Perth Mint’s gold sales for the year to date total 144,804 ounces, reflecting a 58.1% decrease compared to the 345,232 ounces sold during the same period last year.
Perth Mint Silver Bullion Sales in May 2024
The Mint reported that sales of its minted silver coins and bars advanced by 796,934 ounces, showing a 16.4% increase from April but 57.6% less than in May 2023.
"I’m pleased to see silver sales bounce back after a softer result in April," Vance added. "We are continuing to work hard to design and produce minted products with wide appeal for our global customers."
Year to date, The Perth Mint’s silver sales have totaled 4,118,519 ounces, a 50.8% drop from the 8,370,120 ounces sold during the same period last year.
Perth Mint Gold and Silver Sales by Month through May 2024
Below is a monthly summary of Perth Mint bullion sales from January 2022 to May 2024. 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 2024 | 796,934 | 23,238 |
| April 2024 | 684,735 | 33,387 |
| March 2024 | 860,672 | 16,442 |
| February 2024 | 1,006,852 | 47,086 |
| January 2024 | 769,326 | 24,651 |
| December 2023 | 681,490 | 36,297 |
| November 2023 | 672,623 | 53,520 |
| October 2023 | 1,073,553 | 42,302 |
| September 2023 | 1,116,779 | 36,530 |
| August 2023 | 792,503 | 34,875 |
| July 2023 | 863,485 | 44,009 |
| June 2023 | 1,326,011 | 73,124 |
| 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 |
| April 2022 | 2,119,491 | 80,941 |
| March 2022 | 1,649,634 | 121,997 |
| February 2022 | 1,632,323 | 72,651 |
| January 2022 | 2,387,165 | 66,709 |
Bullion Coins Released in May 2024
In May, as reported by The Perth Mint, the following bullion coins were released:
- Chinese Myths and Legends Dragon & Koi 2024 1oz Gold Bullion Coin
- Australian Koala 2024 1oz Silver Bullion Coin
In April, as reported by Mint, the following bullion coins were released:
- Australian Kookaburra 2024 1/10oz Gold Bullion Coin
- Australian Kookaburra 2024 1/10oz Platinum Bullion Coin
- Australian Swan 2024 1oz Silver Bullion Coin
- Australian Swan 2024 1oz Gold Bullion Coin
- The Perth Mint’s 125th Anniversary 2024 1oz Gold Bullion Coin
- The Perth Mint’s 125th Anniversary 2024 1oz Silver Bullion Coin
- The Perth Mint’s 125th Anniversary 2024 1oz Platinum Bullion Coin
- Australian Kookaburra 2024 10oz Silver Bullion Coin
In March, as reported by the Mint, the following bullion coins were released:
- Australian Kookaburra 2024 1 Kilo Silver Bullion Coin
- Australian Wedge-tailed Eagle 10th Anniversary 2024 1oz Silver Bullion Coin
In February, the Mint reported, the following bullion coins were released:
- Australian Kangaroo 2024 1 Kilo, 1oz, 1/2oz, 1/4oz, 1/10oz Gold Bullion Coins
- Australian Kangaroo 2024 1oz Silver Bullion Coin
- Australian Kangaroo 2024 1oz Platinum Bullion Coin
In January, the Mint reported the following bullion coins were released:
- Australian Lunar 2024 Year of the Dragon 1 Kilo, 5oz Silver Bullion Coins
- Australian Lunar 2024 Year of the Dragon 1/20oz Gold Bullion Coin
- Australian Kookaburra 2024 1oz Silver Bullion Coin
