Price of gold held at AUD 3,000 in April
- The Perth Mint sold 75,166 troy ounces (oz) of gold and 1,947,743 oz of silver in minted product form during April.
- The Perth Mint Depository’s total gold holdings decreased 0.14% to 1,808,517 oz. Silver holdings dropped 0.61% to 36,671,273 oz during the month.
- Holdings in The Perth Mint listed ETP, ASX:PMGOLD, decreased 0.80% to 239,402 oz in April.
Gold jumped back above USD 2,000 at the start of April. With stresses in the banking system triggering heavy safe haven buying on yield and US dollar declines, prices hit near USD 2,050 by mid-month. The price fell sharply when the US Purchasing Managers Index, a measure of the activity level of purchasing managers in the manufacturing sector, came out at 50.4 vs an expected 49.0. As the month ended, however, gold recovered to record a relatively flat position month on month.
Gold in Australian dollars ended the month slightly over AUD 3,000 after recently hitting a record of almost AUD 3,040. The local gold price was supported in April by the weakening of the AUD dollar to the USD dollar.
Silver experienced a near 10% increase by mid-month breaching USD 26, a 1 year high, before falling back to around USD 25 at the end of April. Locally, silver ended the month around AUD 37.50, representing an increase of more than 5%.
The Gold Silver Ratio decreased throughout April to finish the period at 80.
Minted products
The Perth Mint sold 75,166 oz of gold and 1,947,743 oz of silver in minted product form during April.
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
75,166
-7%
17%
-7%
42%
Silver
1,947,743
7%
58%
-8%
83%
CURRENT MONTH SALES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS (TROY OUNCES) APR 2020 TO APR 2023.
General Manager Minted Products, Neil Vance said that Australian and US buyers accounted for the lion’s share of activity in the gold bullion coin market. “Wholesale customers in America remained particularly active with investor demand there fuelled by banking issues,” he said. “Overall sales of gold minted products declined slightly, but the silver lining was additional capacity to make silver coins in the light of booming demand.”
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 0.14% to 1,808,517 oz, while silver holdings were down 0.61% to 36,671,273 oz in April. Compared to 12 months ago, gold holdings were down 6.39%, while silver holdings were down by 2.28%.
TOTAL TROY OUNCES OF GOLD AND SILVER HELD BY CLIENTS IN THE PERTH MINT DEPOSITORY APR 2020 TO APR 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) decreased during April, with holdings down 0.80% to 239,402 ounces.
MONTHLY CHANGE IN TROY OUNCES HELD BY CLIENTS IN PERTH MINT GOLD (ASX:PMGOLD) APR 2020 TO APR 2023
The total value of PMGOLD holdings ended April was AUD 713 million, with the gold price trading over AUD 3,000 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.
