Perth Mint Gold and Silver Bullion Sales Split in March

2017 Australia Koala 1oz Silver Bullion Coin
CoinNews photo of a 2017 Australia Koala 1oz Silver Bullion Coin

March sales of Australian bullion coins and bars ended mixed from February — higher for silver and lower for gold, according to the latest Perth Mint figures.

The Mint’s gold sales dropped to their lowest level in seven months but their silver sales bounced after more than halving previously.

These sales registered against a backdrop of lower precious metals with LBMA prices in March marking declines of 0.9% for gold and 1.2% for silver.

Bullion Sales in March 2017

March sales of Perth Mint gold coins and gold bars totaled 22,232 ounces, for declines of 12% from February and 53.6% from March 2016.

For the first quarter or year to date, gold sales reached 120,234 ounces for a 9.4% decrease from the 132,700 ounces sold during the first three months of last year.

The Perth Mint delivered 716,283 ounces in silver bullion last month, rising 42.6% from February but falling 59.2% from a year earlier.

Silver sales tallied to 2,449,503 ounces in the first quarter for a 42.8% drop from last year’s starting three-month total of 4,278,708 ounces.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from March 2016 to March 2017. The figures show monthly ounces of gold and silver shipped by the Minted Products division of 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
March 2017 716,283 22,232
February 2017 502,353 25,257
January 2017 1,230,867 72,745
December 2016 430,009 63,420
November 2016 984,622 54,747
October 2016 1,084,231 79,048
September 2016 1,031,858 58,811
August 2016 376,461 14,684
July 2016 693,447 16,870
June 2016 1,220,817 31,368
May 2016 974,865 21,035
April 2016 1,161,766 47,542
March 2016 1,756,238 47,948


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elisabeth guss

I’ve heard rumours that gold bullion has been artificially depressed. Certainly since I bought bullion from Perth Mint years ago (sometime in the 1990s) it’s barely risen at all. I’d like to understand why this is. Any comments?