Perth Mint Bullion Sales Slow in February, Demand for Silver Solid

Demand for Australian bullion products slowed in February from the previous month but grew from a year earlier, according to the latest figures from The Perth Mint of Australia. The Mint’s silver bullion sales, while lower, were solid.

Gains registered against falling precious metals with LBMA prices in February down 2% for gold and 4.6% for silver.

Bullion Sales in February 2018

The Perth Mint’s sales of gold coins and gold bars accumulated to 26,473 ounces in February, slipping 28.8% from January but 4.8% higher than the same month a year earlier.

Year to date gold sales at 63,647 ounces are 35.1% lower than the 98,002 ounces delivered in the first two months of last year.

February sales of silver coins and silver bars totaled 992,954 ounces, growing 97.7% from February 2017 but sliding 7% from January when demand hit a six-month high. Last month’s total was the fourth highest in the last 12 months and the second highest since July.

Perth Mint silver sales tally to 2,060,315 ounces for the year so far, up 18.9% from last year’s starting two-month total of 1,733,220 ounces.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from February 2017 to February 2018. 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.