Demand for Australian bullion products rebounded in July with gold sales the highest in six months and silver sales more than doubling June’s level when they hit a multi-year low, the latest sales figures from The Perth Mint of Australia show.
The monthly gains happened against a backdrop of falling precious metals with LBMA prices in July dropping 2.4% for gold and 3.7% for silver.
Bullion Sales in July 2018
Perth Mint sales of gold coins and gold bars reached 29,921 ounces last month — the most since January, marking increases of 77.6% from June and 26.4% from July of last year.
Their year-to-date total at 170,259 ounces is 15% lower than the 200,337 ounces sold through the first seven months of 2017.
The Perth Mint sold 486,821 ounces in silver coins and silver bars in July, scoring a 112.3% increase from the previous month but dropping 58.3% from July 2017. The strong month-over-month advance was supported by a terrible June when silver sales ran the slowest since CoinNews started tracking the Mint’s monthly data in February 2013.
For the January to July period, silver sales at 4,768,112 ounces slowed 22.2% from the 6,128,170 ounces delivered through the same months in 2017.
Perth Mint Gold and Silver Sales by Month
Below is a monthly summary of Perth Mint bullion sales from July 2017 to July 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.
|Perth Mint Bullion Sales (in troy ounces)|