Perth Mint Silver Bullion Sales Tumble in August

Australian bullion demand declined in August, according to figures from The Perth Mint, though only somewhat for gold coins. They sank to a one-year low for silver coins.

These sales registered against a backdrop of rising precious metals with LBMA prices in August registering advances of 3.5% for both gold and silver.

Bullion Sales in August 2017

The Perth Mint sold 23,130 ounces in gold coins and gold bars last month for a 2.3% drop from July and a 57.5% increase from August of last year. As a reminder, it was only four months earlier when gold sales at 10,490 ounces logged their lowest total since CoinNews started tracking The Perth Mint’s data in February 2013.

Year to date sales at 223,467 ounces ran 15.4% slower than the 264,269 ounces moved during the first eight months of 2016.

Sales of silver bullion reached 392,091 ounces in August, for the lowest total since the same month last year. The sales sank 66.4% from the previous month but grew 4.2% compared to August 2016.

For the January to August period, silver sales at 6,520,261 ounces are 25.1% lower than the 8,706,064 ounces delivered through the same months in 2016.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from August 2016 to August 2017. 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.