Perth Mint Gold and Silver Bullion Sales Slow in November

November sales of Australian bullion slowed from the previous month, for both gold and silver products — although they were still solid for the former, according to the latest figures from The Perth Mint of Australia.

The Mint’s bullion sales registered against rising previous metals. In LBMA prices for November, gold scored its first monthly increase in eight months, surging 7%, while silver extended its streak of monthly advances to three by soaring 12.5%.

Perth Mint Gold Bullion Sales in November 2022

Snapping a streak of four consecutive elevated months, November sales of the Mint’s gold coins and gold bars reached 114,304 ounces, logging declines of 37.6% from October (when they notched an all-time monthly high) and 1.4% from November 2021.

Neil Vance, General Manager of Minted Products, noted that "stocktake during the month held back some production," adding:

"Despite this, ounces of gold sold as minted products were at their second highest monthly level this financial year." (The Mint’s 2023 fiscal year started July 1, 2022.)

Year-to-date gold sales at 1,056,335 ounces are 6.1% higher than the 995,381 ounces sold during the leading eleven months of last year.

Perth Mint Silver Bullion Sales in November 2022

Perth Mint November sales of minted silver coins and silver bars reached 1,315,293 ounces, posting declines of 34.1% from October and 14.1% from November 2021.

This calendar year has been exceptional for the Mint’s silver bullion with several high sales months, including all-time monthly rankings of second in September at 2,579,941 ounces, third in July 2022 at 2,465,513 ounces, fourth in January 2022 at 2,387,165 ounces, and fifth in May 2022 at 2,217,582 ounces.

Perth Mint silver sales for the year so far at 21,541,391 ounces are 24.1% higher than the 17,358,388 ounces sold during the same period last year.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from November 2021 to November 2022. 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.