Perth Mint Silver Bullion Sales Surge in September to 3-1/2-Year High

Like a year earlier, Australian bullion demand in September grew for a fourth straight month for gold coins and gold bars and for a third straight month for silver coins and silver bars, according Perth Mint figures published earlier this month.

More notably, multi-month highs were reached. The Mint’s silver sales were the strongest since March 2016 and its gold sales the best since November 2018.

The monthly gains happened against a backdrop of falling precious metals with LBMA prices in September plunging 2.8% for gold and 6.1% for silver. The Mint’s silver bullion sales saw extra support from the early release of newly dated 2020 coins.

Bullion Sales in September 2019 and YTD

The Perth Mint sold 46,837 ounces in gold coins and gold bars last month, jumping 115.2% from the level reached in August but falling 25.1% from the tally hit in September 2018.

Year-to-date gold sales at 223,821 ounces are 17.6% lower than the 271,715 sold through the first nine months of last year.

September sales of the Mint’s silver coins and silver bars at 1,350,038 ounces came in 15.3% higher than the prior month and edged up 3.4% from September 2018.

Perth Mint silver sales for the year at 7,789,569 ounces are 18.1% higher than the 6,593,957 ounces sold in the same months of 2018.

Perth Mint Gold and Silver Sales by Month

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