Demand for Australian bullion products slumped in December and in 2014, new sales figures from the Perth Mint of Australia show. Gold sales dropped to a four-month low while silver sales slipped to an eight-month low.
Australian bullion sales were registered in a backdrop of falling precious metals prices with gold down 1.5% in 2014. Silver booked a heavier annual loss of 19.5%.
Bullion Sales in December and in 2014
December sales of Perth Mint gold coins and gold bars advanced 40,211 ounces, the lowest since August and down 19.4% from the 49,904 ounces in November. Annual sales reached 516,709 ounces for a 31.5% decline from 2013 when sales hit 754,636 ounces.
Perth Mint sales of silver coins totaled 477,731 ounces last month, the weakest amount since April and off 43.9% from the 807,246 ounces in November. Annual sales at 7,567,467 ounces dropped 12.5% from sales of 8,647,862 ounces in 2013.
Perth Mint Gold and Silver Sales by Month
Below is a monthly breakdown of Perth Mint bullion sales from December 2013 to December 2014.
| Perth Mint Bullion Sales (in troy ounces) | ||
|---|---|---|
| Silver | Gold | |
| December 2014 | 477,731 | 40,211 |
| November 2014 | 851,836 | 49,904 |
| October 2014 | 655,881 | 55,350 |
| September 2014 | 756,839 | 68,781 |
| August 2014 | 818,856 | 36,369 |
| July 2014 | 577,988 | 25,103 |
| June 2014 | 586,358 | 39,405 |
| May 2014 | 630,349 | 36,127 |
| April 2014 | 361,988 | 23,461 |
| March 2014 | 545,165 | 30,177 |
| February 2014 | 392,088 | 47,003 |
| January 2014 | 912,388 | 64,818 |
| December 2013 | 845,941 | 58,944 |
US Mint Bullion Sales
U.S. Mint gold sales also tumbled in 2014 with the agency’s main American Gold Eagle products at 524,500 ounces for the year for a 38.8% drop from sales of 856,500 ounces in 2013.
The United States Mint had better luck with its silver coins as its core American Silver Eagles notched a new annual record of 44,006,000 compared to the previous record set in 2013 of 42,676,000.
U.S. Mint bullion sales for 2014 also included 16,900 ounces in American Eagle platinum coins; 177,500 ounces in American Buffalo gold coins; and 676,500 ounces in America the Beautiful Five Ounce Silver Bullion Coins.
