Perth Mint’s Gold And Silver Bullion Coin Sales Soar In September

Sales of gold products by the Perth Mint surged in September to their highest since January 2017, while silver sales more than doubled from August to mark an over two-year peak, boosted by lower bullion prices, the mint said on Wednesday.

Sales of gold coins and minted bars surged 61 percent from August to 62,552 ounces last month, the mint said in a blog post.

Gold sales in September rose about 35 percent from a year-ago period. Gold prices dropped 0.8 percent in September, declining for
a sixth consecutive month in their longest losing streak in two decades.

“We have experienced added interest in our bullion coins since the drop in price of both gold and silver during August. Some of this is down to the previously dormant U.S. market, which at last is showing signs of reawakening,” said Neil Vance, Group Manager, minted products, at Perth Mint.

Silver sales soared 151 percent from August to 1,305,600 ounces, their highest since March 2016. From a year earlier, sales advanced about 87 percent. Silver prices inched up 0.7 percent in September, after falling for three straight months, and marking an over 9 percent decline in the quarter ended September.

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 edged up on Wednesday after gaining over 1 percent in the previous session, buoyed by safe-haven demand as Italy’s budget plan sets it on course for a potential clash with the European Union.

            Period       Gold (oz)       Silver (oz)

      (year-month)                 

        2018-Sept         62,552          1,305,600

       2018-August     38,904           520,245

         2018-July          29,921           486,821

         2018-June         16,847           229,280

          2018-May          14,800           557,120    

        2018-April          15,161           458,655

        2018-March       29,883           975,921

          2018-Feb          26,473           992,954

          2018-Jan          37,174         1,067,361

          2017-Dec          27,009           874,437

          2017-Nov          23,901           544,436

          2017-Oct          44,618           999,425

         2017-Sept          46,415           697,849

          2017-Aug          23,130           392,091

         2017-July          23,675         1,167,963

         2017-June          19,259         1,215,071

          2017-May          29,679           826,656

        2017-April          10,490           468,977

        2017-March          22,232           716,283

          2017-Feb          25,257           502,353

          2017-Jan          72,745         1,230,867

          2016-Dec          63,420           430,009

          2016-Nov          54,747           984,622

          2016-Oct          79,048         1,084,213

         2016-Sept          58,811         1,031,858

          2016-Aug          14,684           376,461

         2016-July          16,870           693,447

         2016-June          31,368         1,220,817

          2016-May          21,035           974,865

        2016-April          47,542         1,161,766

        2016-March          47,948         1,756,238

          2016-Feb          37,063         1,049,062

          2016-Jan          47,759         1,473,408

*********