Exceptionally Strong Demand for Silver Overshadows Perth Mint Gold Sales

A Perth Mint, a government-controlled entity of Western Australia, experienced a remarkable transformation in the precious metals market in January. With exceptionally strong demand for silver, the institution that processes approximately 75% of the newly mined gold from Australia recorded a stark contrast between the performance of the two noble metals. According to data released on February 5 and reported by the data platform Jin10, this shift in market preferences reflects significant trends in global demand.

Silver Leads Explosive Sales Growth

Silver sales showed explosive growth, soaring 188% compared to the previous month. The traded volume jumped from 597,873 ounces in December to an impressive 1.72 million ounces in January, marking a remarkable increase of approximately 315% year-over-year. This performance represents a peak not seen in nearly three years, revealing a resurgence of institutional and investor interest in this precious metal in the global context.

Gold Faces Monthly Decline but Maintains Yearly Growth Trajectory

Meanwhile, sales of gold coins and minted bars contracted during the period. The volume decreased from 35,885 ounces in December to 29,103 ounces in January, a 19% decline. Despite the monthly reduction, the data show that annual performance remains solid, with growth of approximately 57% compared to the same period last year.

Global Market Intensifies Interest in Precious Metals

Neil Vance, General Manager of Minted Products at Perth Mint, noted that the exceptionally high demand for silver has attracted significant interest from multiple international markets. The United States, Europe, Asia, and Australia have emerged as regions driving this robust demand. The geographic distribution of this demand suggests a strategic realignment in investment preferences, with precious metals strengthening their position in wealth protection portfolios across different continents.