ABC Bullion has introduced a new Southern Cross one-ounce gold coin valued at $5,167, amid an ever rising gold price. The coin has 99.99% gold content.
ABC Bullion’s new Southern Cross coin is worth more than the current spot price of gold and this is due to the coin’s value being determined by its gold content and purity, as reported by the Melbourne Mint.
Other factors that drive a bullion gold coin’s price include premiums over spot, legal tender status and government backing, as well as market supply and mint production.
ABC Bullion’s new coin is set against the Australian outback looking towards the Southern Cross constellation which is considered a defining feature of the Australian night sky.
Meanwhile, the iconic Australian animals — kangaroo and emu — symbolise a nation moving forward. The bullion says together with the constellation, the coins capture Australia’s national identity as well as its place in the world.
On 13 May, gold rose above US$3,250 ($5,021.50) per ounce as investors bought bullion following a decline in the previous session, as reported by Trading Economics.
Gold’s price sat at $5,027 per ounce at the time of writing, as reported by ABC Bullion.
A day earlier, bullion dropped 2.7% as a major de-escalation in the US-China trade war boosted risk appetite and diminished gold’s appeal as a haven. Both countries have agreed to lower tariffs on each other’s products for 90 days.
Trading Economics adds that investors are now awaiting key US economic reports due later this week, which will provide further insight on the Federal Reserve’s policy path.
Despite this drop, Nationwide Coin & Bullion Reserve reports that demand for gold bars and coins in the US hit 113 metric tons in 2023, representing a 5% increase.
According to the World Gold Council, this was the third highest year of gold bar and coin investment.
This however, has not been the same for gold jewellery demand. As Mining.com.au previously reported, jewellery’s role in the precious metals’ story is beginning to lose its lustre.
During Q1 2025, gold jewellery was weighed down by the rising gold price, recording the lowest since demand was halted by the 2020 pandemic.
In 2024, gold jewellery was a clear outlier, with annual consumption dropping 11% to 1,877 tonnes as consumers could only afford to buy in lower quantities, as reported by the World Gold Council. Nonetheless, gold jewellery spend has increased 9% to US$144 billion ($245 billion) on the back of higher prices.
Write to Aaliyah Rogan at Mining.com.au
Images: ABC Bullion
