A solid start to 2023 for physical gold sales at The Perth Mint
- The Perth Mint sold 64,395 troy ounces (oz) of gold and 1,233,344 oz of silver in minted product form during January 2023.
- Total gold holdings in The Perth Mint Depository decreased by 0.96%. Silver holdings dropped by 0.22% during the month.
- Holdings in The Perth Mint listed ETP, ASX:PMGOLD, also decreased in January, down 0.24%.
Gold’s new year rally took prices to a nine-month high of near USD 1,950 on 25 January before closing out the month at around USD 1,925. Up more than 5.50% since the start of the year and close to 20% from two-year lows seen in early November, gold continued to find favour among investors, with surging global debt levels and liquidity from central banks among fundamental factors providing support.
Local gold prices were up near 2.5% on December’s close after hitting an intra-month high of just under AUD 2,800.
Silver struggled to sustain its strong year-end rally, with prices slipping below USD 23 by the end of January. Locally, an ounce of silver was worth around AUD 33.50 at month’s end (-4.30%).
Highlighting the fact that silver failed to rise in line with gold, the gold silver ratio ended January up nearly 7% at 81.50.
Minted products
The Perth Mint sold 64,395 oz of gold and 1,233,344 oz of silver in minted product form during January.
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.
Precious metal
Current month
One month %
Three months %
12 months %
Long-term average
Gold
64,395
6%
-64%
-3%
22%
Silver
1,233,344
-25%
-38%
-48%
18%
CURRENT MONTH SALES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS (TROY OUNCES) JAN 2020 TO JAN 2023.
General Manager Minted Products, Neil Vance said the latest monthly sales data took account of January’s quieter trading conditions, including what for many Australians is their main summer vacation. “Nevertheless, our sales got off to a solid start, laying the foundation for what will hopefully be a strong second half to the financial year,” he said.
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 decreased by 0.96%, while silver holdings were down 0.22% in January. Compared to 12 months ago, gold holdings were down 5.25%, while silver holdings were down by just 0.40%.
Looking back to January 2020 before the onset of the COVID pandemic, holdings of gold have increased by approximately 18% and silver by 14%, maintaining strong performances evident since mid-2020.
TOTAL TROY OUNCES OF GOLD AND SILVER HELD BY CLIENTS IN THE PERTH MINT DEPOSITORY JAN 2020 TO JAN 2023
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) fell during January, with holdings down by 600 oz (-0.24%). This brings total holdings in PMGOLD to 244,753 ounces (7.61 tonnes).
MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD (ASX:PMGOLD) JAN 2020 TO JAN 2023
The total value of PMGOLD holdings ended January was AUD 669 million, with the gold price trading just above AUD 2,730 oz.
Perth Mint Gold is an exchange traded product (ETP) that allows investors to trade in gold via a stock broking account as they would shares on the ASX. To learn more, visit the PMGOLD web page.
DISCLAIMER
Past performance does not guarantee future results. The information in this article and the links provided are for general information only and should not be taken as constituting professional advice from The Perth Mint. The Perth Mint is not a financial adviser. You should consider seeking independent financial advice to check how the information in this article relates to your unique circumstances. All data, including prices, quotes, valuations and statistics included have been obtained from sources The Perth Mint deems to be reliable, but we do not guarantee their accuracy or completeness. The Perth Mint is not liable for any loss caused, whether due to negligence or otherwise, arising from the use of, or reliance on, the information provided directly or indirectly, by use of this article.
