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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Perth Mint Gold and Silver Bullion Sales Tumble in February

Australian sales of bullion coins and bars tumbled in February, according to the latest round of Perth Mint figures.

Perth Mint Gold and Silver Bullion Sales Slow in November

Perth Mint Gold and Silver Bullion Sales Slow in November

The Mint’s gold sales fell to their lowest level in six months and their silver sales more than halved from January.

“In line with the worldwide trend, demand for Australian bullion coins and bars was significantly quieter in February,” the Perth Mint said. “Growing confidence in the prospect of improving economic conditions has seen increased demand for alternative assets at the expense of precious metals.”

February sales of Perth Mint gold coins and gold bars at 25,257 ounces registered declines of 65.3% from January and 31.9% from February 2016.

However, for the year to date, gold sales total 98,002 ounces for a 15.5% increase over the 84,822 ounces delivered in the first two months of last year.

The Perth Mint sold 502,353 ounces in silver bullion last month, marking declines of 59.2% from the previous month and 52.1% from a year earlier.

Their silver sales tally to 1,733,220 ounces for the year, down 31.3% from last year’s opening two-month total of 2,522,470 ounces.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from February 2016 to February 2017. The figures show monthly ounces of gold and silver shipped by the Minted Products division of 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 2017 502,353 25,257
January 2017 1,230,867 72,745
December 2016 430,009 63,420
November 2016 984,622 54,747
October 2016 1,084,231 79,048
September 2016 1,031,858 58,811
August 2016 376,461 14,684
July 2016 693,447 16,870
June 2016 1,220,817 31,368
May 2016 974,865 21,035
April 2016 1,161,766 47,542
March 2016 1,756,238 47,948
February 2016 1,049,062 37,063

See official article from the Perth Mint