Perth Mint Gold Bullion Sales in March Rank Third Best

March sales of Australian minted bullion firmed for silver products and rank third best on record for gold products, the latest figures from The Perth Mint of Australia show.

The Mint’s bullion advances measured against healthier precious metals with March LBMA prices rising 1.7% for gold and 1.9% for silver. First quarter gains were sharper with precious metals prices increasing 6.7% for gold and 7.5% for silver.

Perth Mint Bullion Sales in March and First Quarter 2022

March sales of the Mint’s gold coins and gold bars tallied to 121,997 ounces, soaring 67.9% from February while falling 6.7% from March 2021 when sales reached an all-time monthly high. Aside from March 2021 when sales reached 130,730 ounces, the only better month for the Mint was in February 2021 at 124,104 ounces.

“Amid the Russia Ukraine crisis and its associated gold price volatility, it was no surprise to see a further increase in interest for our physical gold products — particularly from Europe,” said General Manager Minted Products, Neil Vance.

“With good stocks of 1oz Australian Kangaroo gold coins and a growing inventory of fractional sizes, we were able to significantly increase the number of ounces shipped compared to February.”

The Mint’s first quarter gold sales at 261,357 ounces are 21% lower than the 330,937 ounces sold in first quarter 2021.

Perth Mint sales in March of minted silver coins and silver bars totaled 1,649,634, scoring increases of 1.1% from February and about 3.1% from March of last year.

The Mint’s first quarterly silver sales of 5,669,122 ounces are 23.4% higher than the 4,593,591 ounces sold during the first three months of 2021.

Perth Mint Gold and Silver Sales by Month

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

*Perth Mint published approximated sales data for March 2021. Specifically, the Mint stated that during March it shipped “more than 130,000 troy ounces of gold and almost 1.6 million troy ounces of silver.” Later data placed March 2021 gold sales at 130,730 ounces.