Gold sales at the Perth Mint in 2021 hit a decade high despite the plunge in December

January 6 (Reuters)The Perth Mint’s gold product sales in 2021 were the highest in a decade, despite halving in December from the previous month, the refinery said on Thursday.

Monthly sales of gold coins and minted bars declined 52.7% to 54,861 ounces in December, their lowest level since August, and were 28.6% year on year.

Despite the decline, Perth Mint sold 1,050,242 troy ounces of gold throughout 2021, “the highest value for a calendar year in the past decade,” with holdings up 4% for the year.

Silver product sales rose 13.2% to 1,733,293 ounces in December, up from 1,530,598 ounces in November and about 84% year over year.

Total silver holdings have been unchanged over the past 12 months, the mint said.

More than 19 million ounces of silver in the form of embossed products were sold during the year, said Jordan Eliseo, manager of listed products and investment research.

Global benchmark spot gold price XAU = rose about 3.1% in December as the weaker dollar = USD made gold more attractive to buyers holding non-US currencies. GOL /

Spot silver XAG = gained around 2.1% in the last month.

However, the price of gold fell 3.6% in 2021 as a recovering global economy drove investors to riskier assets and lowered interest rates on safe investments like precious metals.

“Despite these headwinds, demand has been robust, as reflected in physical cash and coin purchases, a rebound in consumer demand, and strong central bank buying, with the global gold ETF market being the only weak sector in 2021,” Eliseo said.

The Perth Mint, owned by the Government of Western Australia, refines more than 90% of newly mined gold in Australia, one of the largest gold producers in the world.

Gold and Silver from the Perth Mint

(Reporting by Bharat Govind Gautam and Seher Dareen in Bengaluru; Editing by Tom Hogue)

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