The Perth Mint sold 28,244 troy ounces (oz) of gold and 496,707 oz of silver in minted product form during May 2025.
Opening the month around USD 3,250, gold prices softened early as investor confidence lifted on the back of positive trade sentiment and reduced market volatility. For the remainder of the month gold traded within a wide range of USD 3,100 to USD 3,400. Price movements largely followed shifts in sentiment: when trade tensions and uncertainty flared up, investors returned to gold; when things looked more stable, attention turned back to equities and other assets. After a choppy month gold finished with only a modest gain up 0.30% for May.
In Australian dollar terms, gold tracked the same international sentiment and volatility, trading both above and below the AUD 5,000 mark throughout the month. A slightly stronger Australian dollar contributed to a marginal pullback in the local gold price, which closed May around AUD 5,140.
Silver followed a similarly volatile path, initially climbing before dipping mid-month and rebounding into the close as factors relating to the strength of the overall global economy weighed heavily on silver. It ended May above USD 33 recording a gain of more than 2% for the month.
The silver price in Australian dollar terms was higher in the month of May though the stronger AUD exchange rate tempered some of the gains.
The Gold Silver Ratio was near 100 at the end of month, hovering between 97.24 and 103.67 in May.
For more information, please view the Perth Mint’s May 2025 sales update.
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