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Gold January 07, 2022 04:25:22 PM

Perth Mint Gold Sales Hit Highest Level in a Decade

Paul Ploumis
ScrapMonster Author
The sales hit the lowest monthly levels since August 2021.

Perth Mint Gold Sales Hit Highest Level in a Decade

SEATTLE (Scrap Monster): The annual gold product sales by the Perth Mint hit highest level in nearly ten years, despite falling sharply in the month of December over the previous month.

According to the refiner, it sold 1,050,242 troy ounces of gold during the whole of the previous year. This is the highest figure for any calendar year during the past ten years. The total holdings recorded a surge of 4% during the year.

However, the sales of gold coins and minted bars totalled 54,861 ounces in December last year, falling significantly by 52.7% over the previous month. When matched with the same month a year before, the sales were down by 28.6%. The sales hit the lowest monthly levels since August 2021.

The gold prices recorded a decline of 3.6% over the previous year, as riskier assets gained investor interest amidst recovery in economy across the globe, thus limiting the demand for safe-haven assets such as gold. Despite these headwinds, the demand for gold remained robust, with only global gold ETF market witnessing weakness, said Jordan Elisio, Manager-Listed Products and Investment Research.

Also, the silver product sales surged 13.2% in December to 1,733,293 ounces from the previous month. The annual sales of silver in minted form totalled over 19 million ounces in 2021, the mint release said.

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