Perth Mint Gold and Silver Sales Soften in November

Australian bullion sales in November slowed from their heated pace in October, according to the latest round of Perth Mint figures.

Still, demand remained elevated for gold coins and gold bars as they scored their third strongest sales month this year. And while silver sales dropped below the million an ounce level for only the fourth time this year, they are exceptionally strong when compared to the typical monthly levels seen before 2016.

Bullion sales happened against falling precious metals with LBMA prices in November recording losses of 7.4% for gold and 6.1% for silver.

Bullion Sales in November 2016

Perth Mint gold sales at 54,747 ounces last month logged declines of 30.7% from October and 72.9% from November 2015. Competing against the previous month was a tough task as October’s haul was the biggest for a month since May 2013.

For the January to November period, gold sales total 456,875 ounces for a 10% increase over last year’s same eleven-month total of 415,534 ounces.

The Perth Mint sold 984,622 ounces in silver bullion last month, marking declines of 9.2% from October and 14% from November of last year. The Perth Mint posted sales above 1 million ounces in every month this year but May, July, August, and now November. Until September 2015, the 1 million monthly milestone had not been seen since at least February 2013 when CoinNews started tracking the Mint’s data.

Year to date silver sales at 11,806,757 ounces are 21.3% higher than the 10,512,044 ounces delivered during the same period in 2015.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from November 2015 to November 2016. 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.