The Perth Mint achieves another strong month for ounces sold as gold coins and minted bars
- The Perth Mint sold 114,304 troy ounces (oz) of gold and 1,315,293 oz of silver in minted product form during November.
- The Perth Mint depository’s total gold holdings decreased by 1.29%. Silver holdings shrank by 0.44% during the month.
- Holdings in The Perth Mint listed ETP, ASX:PMGOLD, also decreased for the month, down 0.90%.
Gold began November just shy of USD 1,633 oz under the shadow of the upcoming Federal Open Market Committee meeting. Price action was flat in the first four days but pivoted towards the upside in response to Fed officials raising the possibility of more moderate rate hikes. Gold breached technical resistance at USD 1,725 and continued to close higher, also benefitting from a softer US dollar. The strong uptrend saw gold extend gains to a three-month high of USD 1,786 before closing the month at USD 1,768.45 (+ 8.28%).
Gold in Australian dollars followed a similar trading pattern during the first half of the month. Unfortunately for local investors, the gain was tempered by the Aussie dollar’s rally against the greenback, with the price of gold ending the month just above AUD 2,612 (+1.64%).
Silver had an outstanding month, rising from USD 19.14 to USD 22.19 (+15.96%). Locally, an ounce of silver was worth around AUD 32.66 at month’s end (+ 9.23%).
The gold silver ratio ended November at 79.
Minted products
The Perth Mint sold 114,304oz of gold and 1,315,293oz of silver in minted product form during November.
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
114,304
-38%
35%
-1%
117%
Silver
1,315,293
-34%
-21%
-14%
26%
CURRENT MONTH SALES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS (TROY OUNCES) AND CHANGE (%) RELATIVE TO PRIOR PERIODS TROY OUNCES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS nov 2019 TO nov 2022.
General Manager Minted Products, Neil Vance said that stocktake during the month held back some production. “Despite this, ounces of gold sold as minted products were at their second highest monthly level this 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 1.29%, while silver holdings were down 0.44% in November. Compared to 12 months ago, gold holdings were down 2.05%, while silver holdings were down by just 0.05%.
Looking back to November 2019, holdings of gold have increased by approximately 22% and silver by 15%, maintaining strong performances evident since mid-2020.
TOTAL TROY OUNCES OF GOLD AND SILVER HELD BY CLIENTS IN THE PERTH MINT DEPOSITORY Nov 2019 TO nov 2022
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 November, with holdings down by 2,257oz (-0.90%). This brings total holdings in PMGOLD to 248,590 ounces (7.73 tonnes).
MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD (ASX:PMGOLD) Nov 2019 TO nov 2022
Source: The Perth Mint, ASX, World Gold Council
The total value of PMGOLD holdings ended November was AUD 649 million, with the gold price trading just above AUD 2,612 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.
