October sales of Australian bullion gold and silver products decreased from the previous month but were higher than a year earlier, according to figures from The Perth Mint of Australia.
Mint sales registered against a backdrop of soaring precious metals with LBMA prices in October marking gains of 1.5% for gold and 11.5% for silver.
Bullion Sales in October 2021
Perth Mint October sales of gold coins and gold bars combined to 59,750 ounces, dropping 39.5% from September while rising 55.7% from October 2020.
"While monthly volumes were high by historical standards, October sales of gold coins reflected more subdued demand in key markets such as Europe and the US," said General Manager Minted Products, Neil Vance
Year-to-date gold sales at 878,779 ounces are 55.7% higher than the 617,833 ounces sold during the same time last year.
Perth Mint October sales of silver coins and silver bars totaled 1,352,275 ounces, falling 24.5% from September while rising 10.1% from October 2020. As recently as June, the Mint’s silver sales at 1,823,029 ounces ranked third highest for a month according to CoinNews tracking data which dates to February 2013. (They were the second highest for a month in February at 1,830,707 ounces.)
"With inventories reserved for the new coin launches exhausted in the previous month, October silver sales reflected our factory’s full monthly output," Vance added.
The Mint’s silver sales for the year so far at 15,827,790 ounces are 10% higher than the 14,391,427 ounces sold during the same period last year.
Perth Mint Gold and Silver Sales by Month
Below is a monthly summary of Perth Mint bullion sales from October 2020 to October 2021. 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 | |
| October 2021 | 1,352,275 | 59,750 |
| September 2021 | 1,789,926 | 98,753 |
| August 2021 | 1,467,229 | 53,976 |
| July 2021 | 1,302,723 | 70,658 |
| June 2021 | 1,823,029 | 72,910 |
| May 2021 | 1,700,807 | 91,146 |
| April 2021 | 1,798,210 | 101,379 |
| March 2021* | 1,600,000 | 130,000 |
| February 2021 | 1,830,707 | 124,104 |
| January 2021 | 1,162,884 | 76,103 |
| December 2020 | 941,767 | 76,806 |
| November 2020 | 1,119,296 | 84,158 |
| October 2020 | 1,228,713 | 38,367 |
*Perth Mint published approximated sales data for March. Specifically, the Mint stated that during March it shipped "more than 130,000 troy ounces of gold and almost 1.6 million troy ounces of silver."
