The Perth Mint’s July Gold, Silver Sales Surge

The Perth Mint’s July sales of gold products nearly doubled from a month earlier, its highest since January, while silver sales more than doubled, the mint said on Friday.

Sales of gold coins and minted bars climbed about 78 percent to 29,921 ounces in July, up from 16,847 ounces reported in June, the mint said in a blog post.

Gold sales in July were also up 26.4 percent compared with the same month last year.

Silver sales in July were at 486,821 ounces, up from 229,280 ounces in June, and marked an over-58 percent decline compared with a year-ago period.

The Perth Mint refines more than 90 percent of newly mined gold in Australia, the world’s second-largest gold producer after China.

Gold prices fell 2.3 percent in July, down for a fourth straight month, marking its longest losing streak since 2013.

Spot gold was up 0.1 percent at $1,209.15 an ounce at 0050 GMT, after hitting the lowest since July 2017 at $1,206.80 in the previous session.

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The Perth Mint Bullion sales slow in February, demand for Silver lower but solid

Demand for Australian bullion products slowed in February from the previous month but grew from a year earlier, according to the latest figures from The Perth Mint of Australia. The Mint’s silver bullion sales, while lower, were solid.

Gains registered against falling precious metals with LBMA prices in February down 2% for gold and 4.6% for silver.

Bullion Sales in February 2018

The Perth Mint’s sales of gold coins and gold bars accumulated to 26,473 ounces in February, slipping 28.8% from January but 4.8% higher than the same month a year earlier.

Year to date gold sales at 63,647 ounces are 35.1% lower than the 98,002 ounces delivered in the first two months of last year.

February sales of silver coins and silver bars totalled 992,954 ounces, growing 97.7% from February 2017 but sliding 7% from January when demand hit a six-month high. Last month’s total was the fourth highest in the last 12 months and the second highest since July.

Perth Mint silver sales tally to 2,060,315 ounces for the year so far, up 18.9% from last year’s starting two-month total of 1,733,220 ounces.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from February 2017 to February 2018. The figures show monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.

Perth Mint Bullion Sales (in troy ounces)
Silver Gold
February 2018 992,954 26,473
January 2018 1,067,361 37,174
December 2017 874,437 27,009
November 2017 544,436 23,901
October 2017 999,425 44,618
September 2017 697,849 46,415
August 2017 392,091 23,130
July 2017 1,167,963 23,675
June 2017 1,215,071 19,259
May 2017 826,656 29,679
April 2017 468,977 10,490
March 2017 716,283 22,232
February 2017 502,353 25,257

About the Perth Mint

The Perth Mint opened in 1899 in response to the discovery of rich gold deposits in Coolgardie and Kalgoorlie. It was Australia’s third branch of Britain’s Royal Mint – the others being the Sydney Mint and the Melbourne Mint