Australian bullion sales in November moved at a steady pace for silver products and quickened for products of gold, the latest figures from The Perth Mint show.
The Mint’s monthly bullion gains set against plunging precious metals with LBMA prices in November dropping 6.3% for gold and 6.2% for silver.
Bullion Sales in November 2020
Perth Mint sales of gold coins and gold bars totaled 84,158 ounces last month, scoring increases of 119.4% from October and 55.1% from November 2019. Of note, the Mint stated that they saw increased demand from international customers, and that a new gold coin also boosted sales.
"The launch of the Kangaroo coincided perfectly with the onset of lower gold prices in the back half of November, presenting our wholesale and retail clients with a great opportunity to secure the new coins," said Neil Vance, General Manager — Minted Products.
Year-to-date gold sales at 701,991 ounces are 126.1% higher than the 310,551 ounces sold last year through eleven months.
The Mint’s sales of silver coins and silver bars reached 1,119,296 ounces in November, representing a decline of 8.9% from October and an opposite 8.9% increase from November 2019. For a second month in a row, the silver sales total did not reflect true demand as it was impacted by reduced manufacturing capacity, with the Mint noting there was "unavoidable repair and maintenance to machinery in the factory."
Perth Mint silver sales for the year so far at 15,510,723 ounces are 51.9% higher than the 10,211,879 ounces sold through the same period in 2019.
Perth Mint Gold and Silver Sales by Month
Below is a monthly summary of Perth Mint bullion sales from November 2019 to November 2020. 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.
| Perth Mint Bullion Sales (in troy ounces) | ||
|---|---|---|
| Silver | Gold | |
| November 2020 | 1,119,296 | 84,158 |
| October 2020 | 1,228,713 | 38,367 |
| September 2020 | 1,677,383 | 62,637 |
| August 2020 | 1,431,036 | 67,462 |
| July 2020 | 1,567,900 | 56,104 |
| June 2020 | 1,573,752 | 44,371 |
| May 2020 | 997,171 | 63,393 |
| April 2020 | 2,123,121 | 120,504 |
| March 2020 | 1,736,409 | 93,775 |
| February 2020 | 605,634 | 22,921 |
| January 2020 | 1,450,317 | 48,299 |
| December 2019 | 1,361,723 | 78,912 |
| November 2019 | 1,027,695 | 54,261 |
