The Perth Mint Sees Strong Silver Demand in April

Sales of Australian bullion in April diverged, according to figures from The Perth Mint of Australia. Gold products experienced a decrease, while silver products saw the highest gains in six months.

The Mint’s bullion sales were set against rising precious metals in April, with LBMA prices (USD) edging up 0.1% for gold and jumping 3.7% for silver.

Perth Mint Gold Bullion Sales in April 2023

In April, The Perth Mint sold a total of 80,541 ounces of minted gold coins and bars. This represents a 6.7% decrease from the prior month, which had the highest sales since November, and a 7.1% decline from April of last year.

Year-to-date, gold sales total 272,343 ounces, which is 20.4% lower than the 342,298 ounces sold in the first four months of last year.

The Mint’s silver coins and bars sales for April totaled 1,947,743 ounces, which is the highest monthly sales figure since October. This represents an increase of 6.8% from March, but a decrease of 8.1% from April 2022.

“Wholesale customers in America remained particularly active with investor demand there fuelled by banking issues,” said Neil Vance, General Manager Minted Products. “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 Mint’s year-to-date silver sales total 6,489,119 ounces, which is 16.7% lower than the 7,788,613 ounces sold during the same period last year.

Monthly Perth Mint Gold and Silver Sales

Below is a monthly summary of Perth Mint bullion sales from April 2022 to April 2023. The figures show monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.