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The total number of items hallmarked by all four UK Assay Offices fell 35.9% in March 2023 compared with the same period in 2022, according to data from Birmingham Assay Office.
The total number of items hallmarked in March was 591,874, around 320,000 less than the same month in 2022.
Silver saw the biggest drop of 47.5% across all categories. Similarly, gold fell by 23.9% with 9ct, 14ct and 18ct gold all dropping by 27.8%, 28.8% and 16.9% respectively.
Platinum stayed level only seeing a modest 0.6% decline in total hallmarked items throughout the month.
The only category that saw gains was palladium, with a 37.6% increase in hallmarked items across all alloys.
The figures in March demonstrate a continued pattern of month-on-month decline in total hallmarking, with figures in February 2023 also dipping by 32.8%.
