Hallmarking down as gold continues to decline

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Platinum bucks the trend and shows 4.6 percent increase on last year.

The total number of items hallmarked across the four UK Assay Offices was down 3.9 percent to 1.07 million in August, compared to 1.12 million the previous year.

The number of nine carat gold articles submitted for hallmarking also continued to decline, falling to 403,806 from 441,634.

The 641,406 pieces of silver hallmarked in August was fractionally down on last year by -0.1 percent, but still accounted for 60 percent of the total units hallmarked in the UK.

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Platinum maintained its strong performance and was up 4.6 percent on August 2009.

New precious metal palladium was significantly down from the last month’s 9320 figure, with 6796 units being hallmarked. This appeared particularly low when compared to the previous year’s figure of 13,110, but that number was due to a large amount of stock being re-called from retailers, following the introduction of the palladium hallmark in July 2009.

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