Pace of Perth Mint Gold and Silver Bullion Sales Slows in February

Sales of Australian bullion products slowed in February from the previous month and from a year earlier, according to figures published by The Perth Mint.

The Mint’s gold sales slipped to an eight-month low and its silver sales dipped to their weakest level in six months.

The dual monthly slowdowns happened against a backdrop of sliding precious metals in February with LBMA prices logging losses of 0.3% for gold and 1.6% for silver.

Bullion Sales in February 2019

February sales of the Mint’s gold coins and gold bars reached 19,524 ounces, posting declines of 37.4% from January and 26.3% from February 2018.

Year to date gold sales at 50,713 ounces are down 20.3% from the 63,647 ounces sold during the first two months of last year.

The Perth Mint’s February sales of silver coins and silvers bars combined to 584,310 ounces, registering drops of 29.5% from January and 41.2% from February of last year.

Silver sales stack to 1,413,164 ounces in the first two months of 2019 for a drop of 31.4% from the 2,060,315 ounces sold during the same period in 2018.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from February 2018 to February 2019. 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.