The total number of pieces hallmarked during July 2020 decreased by 42.7% compared with the same month last, according to the latest figures from the Birmingham Assay office.
Gold hallmarked pieces decreased from 308,297 to 212,620 and silver items decreased from 372,259 to 1741,592 during the month – a decline of 31% and 53.1% respectively.
Palladium hallmarking also slumped by 4,356 pieces to 783 items hallmarked, a decline of 82%. Platinum hallmarking declined by 25.2% to 19,889.
Overall hallmarking in July decreased from 711,547 to 407,884 pieces.
Additionally, for the seven-month period ended July 2020, the number of hallmarked pieces decreased by 45.3%.
Gold saw a 44.3% decrease in hallmarked pieces to 1,164,243, whilst silver slumped by 46.4% to 1,302,692. Palladium and platinum both saw declines of 80.4% and 37.1% respectively.
Over the course of the period, overall hallmarking decreased from 4,726,060 to 2,586,308 items hallmarked.