Perth Mint sales spike amid record gold highs

The Perth Mint sold 40,537 troy ounces (oz) of gold and 713,306 oz of silver in minted product form during March 2025.  

Opening the month around USD 2,830, gold was relatively unaffected by the usual supporting factors such as the CPI print, the Fed Funds rate decision and market positioning regarding future rates decisions. Instead, gold was a standout performer in March delivering exceptional returns that outshone many other asset classes as uncertainty in the market around the impact of tariffs, retaliatory tariffs and the health of the US economy drove investors to safe-haven assets.  

Gold topped the key milestone of USD 3,000 for the first time, recording several record highs. At month’s end gold was trading close to USD 3,120 a near 10% rise for the month, and an increase of more than USD 500 for the calendar year.  

In Australian dollar terms, the gold price moved materially higher in March topping AUD 5,000 for the first time at month’s end. Gold had only breached AUD 4,000 in October 2024 so there have been significant gains in the recent period. A slightly stronger AUD in the period tempered some of the gains experienced in USD. Gold returned close to a 8.5% gain in March. 

In a similar vein to gold, silver was supported by concerns over the potential impact of tariffs resulting in increased demand for physical silver. Silver is trading at some of the highest levels in years and by month’s end was trading near USD 34, a gain of close to 10% for the month.    

The silver price in Australian dollar terms continues to trade at or close to record highs. During the month the price traded close to AUD 55 returning a more than 9% gain in March.  

The Gold Silver Ratio was near 92 at the end of month as both metals rose materially with near equal moves.  

Minted products 

The Perth Mint sold 40,537 oz of gold and 713,306 oz of silver in minted product form during March. 

The table below highlights how these numbers compare to sales seen one month, three months and one year ago.  

MARCH 2025 SALES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS (TROY OUNCES) AND CHANGE (%) RELATIVE TO PRIOR PERIODS. 

The Perth Mint’s General Manager Minted Products, Neil Vance, said it was pleasing to see the market for minted products picking up, even with the elevated precious metals prices. 

“Our gold Kangaroo coins are more popular than ever, with sales particularly strong in Australia and Germany. 

“And our new silver Koala coins have also been very well received. 

“Our 1oz gold and silver bullion 2025 Year of the Snake coins have sold out which is testament to the enduring popularity of the Lunar series around the world. 

“A lot of this success is down to our skilled and talented people at the Mint who continue to create such beautiful, high-quality products.”  

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. In addition, periodic releases and series offer investors a choice of alternative design themes.  

Bullion coins released in March 2025 

• Australian Koala 2025 1oz Silver Bullion Coin  

• Australian Koala 2025 1 Kilo Silver Bullion Coin   

Bullion coins recently ‘sold out’ at The Perth Mint 

• Australian Lunar Series III 2025 Year of the Snake 1oz Silver Bullion Coin 

• Australian Lunar Series III 2025 Year of the Snake 1oz Gold Bullion Coin 

• 2024 125th Anniversary of The Perth Mint 1oz Platinum Bullion Coin  

Please note: The figures stated in this article are for total monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide during March 2025. They exclude sales of cast bars and other activities including sales of allocated/unallocated precious metals for storage by The Perth Mint Depository.  

Perth Mint Gold Structured Product (ASX:PMGOLD) 

Perth Mint Gold Structured Product 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. PMGOLD webpage.  

Total holdings in Perth Mint Gold Structured Product (ASX:PMGOLD) increased during March with holdings up by 8,428 oz (2.87%). This brings total holdings in PMGOLD to 301,589 ounces (9.38 tonnes) with the value of total assets under management to the end of March 2025 reaching AUD 1.495 billion. 

MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD STRUCTURED PRODUCT (ASX:PMGOLD) MARCH 2022 TO MARCH 2025