UK hallmarking falls 7.7% in March
The number of pieces hallmarked in the UK fell 7.7% in March compared with the same period last year, according to data from the Birmingham Assay Office.
The total number of pieces hallmarked was 546,530, down from 591,874 last year and comes after hallmarking fell 4.1% in February.
The total number of silver pieces hallmarked slightly dipped by 1.9% from 262,804 in March 2023 down to 257,861, a decline of 4,943.
Silver 999 dropped the most in the category, falling 28.8% from 2,844 pieces hallmarked last year compared to 2,025 this year.
Gold hallmarking also declined 12.3% from 296,203 to 258,802, a drop of 36,401.
Gold 999 saw a major decline of 48% from 1,046 pieces hallmarked down to 544.
Additionally, Platinum had the steepest decline of any of the metals, from 32,662 down 28,186, a decrease of 13.7%.
Lastly, Palladium also saw a decrease of 7.7% from 591,874 to 546,530 pieces hallmarked.