Kangaroo launch drives jump in precious metals sales at The Perth Mint
The Perth Mint sold 58,136 troy ounces (oz) of gold and 1,055,657 oz of silver in minted product form during November 2024.
The price of gold was volatile in November. After opening the month around USD 2,740, it fell sharply over a number of trading sessions impacted by the victory of Donald Trump in the US presidential election which resulted in a stronger USD and surging yields.
By mid-month the price had dropped as low as USD 2,550 as the market continued to assess policies under a Trump presidency and the potential impact on the global economies and gold.
Gold received support as renewed Russia-Ukraine tensions sparked a rush for safe haven assets with the price jumping more than USD 150 in a short period. At the end of the month gold was trading around USD 2,650 to record a 3% loss for the month.
In Australian dollar terms, the gold price moved lower in November, in line with the USD price. The price fell below AUD 4,000 before recovering by end of the month to trade around AUD 4,080.
Silver commenced the month trading around USD 33.50 and dropped more than gold. At one stage mid-month it was down more than 10%, with the silver price linked to the global economic outlook and potential impacts of the US election result. By the end of the month silver had recovered slightly and was trading around USD 30.70 for a monthly loss of 8.75%.
The silver price in Australian dollar terms corrected sharply in November and by end of the month was down nearly 8%, giving up majority of the gains made in October.
The Gold Silver Ratio was above 86.50 at the end of month.
Minted products
The Perth Mint sold 58,136 oz of gold and 1,055,657 oz of silver in minted product form during November.
The table below highlights how these numbers compare to sales one month, three months and one year ago.
Precious metal
Current month
1 month %
3 months %
12 months %
Gold
58,136
94%
125%
9%
Silver
1,055,657
96%
63%
57%
November 2024 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 the release of the 2025 Australian Kangaroo bullion series in gold, silver and platinum helped boost sales in November.
“The Kangaroo collection is one of our most popular bullion series and is always sought after by investors and collectors,” Mr Vance said.
“We also saw considerable demand for 1 oz gold bars through November.”
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 November 2024
- Australian Kangaroo 2025 1oz Silver Bullion Coin in Tube
- Australian Kangaroo 2025 1oz Silver Individual Bullion Coin
- Australian Kangaroo 2025 1 Kilo Gold Bullion Coin
- Australian Kangaroo 2025 1oz Gold Bullion Coin
- Australian Kangaroo 2025 1/2oz Gold Bullion Coin
- Australian Kangaroo 2025 1/4oz Gold Bullion Coin
- Australian Kangaroo 2025 1/10oz Gold Bullion Coin
- Australian Kangaroo 2025 1oz Platinum Bullion Coin
- Australian Lunar Series III 2024 Year of the Dragon 10 Kilo Silver Bullion Coin
- Australian Koala 2024 1/10oz Gold Bullion Coin
- Australian Koala 2024 1/10oz Platinum Bullion Coin
- Australian Lunar Series III 2025 Year of the Snake 1 Kilo Silver Bullion Coin
- Australian Lunar Series III 2025 Year of the Snake 5oz Silver Bullion Coin
For more new product information visit the bullion web page.
Bullion coins recently ‘sold out’ at The Perth Mint
- 2022 Super Pit 1oz Gold Bullion Coin
- 2023 Australian Koala 1oz Silver Bullion Coin
- Australian Lunar Series III 2025 Year of the Snake 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 November 2024. 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 (ASX:PMGOLD)
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. PMGOLD webpage.
Total holdings in Perth Mint Gold (ASX:PMGOLD) increased during November, with holdings up by 5,308 oz (1.96%). This brings total holdings in PMGOLD to 276,227 ounces (8.59 tonnes) continuing the growth in the product.
MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD (ASX:PMGOLD) November 2021 TO November 2024
