Hallmarking shows steep decline in June and Q2

londonassayoffice_hallmarking.jpg

Second quarter shows 950,000 less items hallmarked compared to 2010.

Hallmarking figures have shown a further serious decline in the second quarter of 2011, with total volumes down 29.6% – 950,000 units less than 2010.

This decline followed a drop of 12.6% in the first quarter and reflects the combined impact of the squeeze on disposable income and the soaring metal prices which particularly affected silver after prices rocketed to over £29 per ounce in April.

The Assay offices have released figures for June which show a total of 379,757 gold items were hallmarked, the clear majority of these 9ct at 262,964. Total overall hallmarking for gold dropped 8.8% compared to 2010.

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Silver items totalled 450,671 items but the decline was even more clear, at 31.4% fewer items than last year.

Platinum continues at a slower pace, but fell by only 5.5% compared to total June platinum hallmarking 2010. Interestingly across all four Assay offices, only 1 item of 850 platinum was hallmarked, with a total of 21,279 for platinum of 950 parts in June.

After a fair couple of month palladium also showed a decline. June’s figures show 9,364 palladium items were Assayed, with 15,422 in the same period last year.

Gold

999 – 88
916 – 31,702
750 – 77,578
585 – 7,415
375 – 262,974
TOTAL: 379,757
 

 

Silver

999 – 1,169
958 – 621
925 – 448,761
800 – 120
TOTAL: 450,671

Platinum

999 – 5
950 – 21,279
900 – 13
850 – 1
TOTAL: 21,298
 

Palladium

950 – 9116
500 – 248
TOTAL: 9364

For the second quarter of 2011 ending June, figures fell 29.6% compared to 2010, with a total of 2,265,625 items hallmarked across the four UK Assay offices.

The four metal groups all showed a decline, with gold hallmarking falling year-on-year by a total 22.8%, silver declining by 34.8%, platinum by 10% and palladium by 16%.

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