Perth Mint Gold Bullion Sales Rally in August to Ten-Month High

2018 Australian Kookaburra Year of the Dog Privy Mark 1oz Silver Bullion Coin
CoinNews photo of a 2018 Australian Kookaburra Year of the Dog Privy Mark 1oz Silver Bullion Coin.

Overall demand for Australian bullion products picked up in August for a second month in a row, according Perth Mint figures published Sept. 2, 2018. Even better for the Mint, its gold sales were the strongest since October and its silver sales the highest since May.

The monthly gains happened against a backdrop of plunging precious metals with LBMA prices in August dropping 1.5% for gold and 5% for silver.

Bullion Sales in August 2018

Sales of Perth Mint gold coins and gold bars totaled to 38,904 ounces last month, scoring gains of 30% from July and 68.2% from August 2017.

Despite the surge, their year-to-date sales at 209,163 ounces are 6.4% lower than the 223,467 ounces sold through the first eight months of last year.

The Perth Mint sold 520,245 ounces in silver coins and silver bars in August, posting increases of 6.9% from July and 32.7% from August 2017. The turnaround is sharp contrast from June when the Mint’s silver sales reached only 229,280 ounces — the weakest level since CoinNews started tracking Perth Mint monthly data in February 2013.

Perth Mint silver sales for the year so far at 5,288,357 are 18.9% lower than the 6,520,261 ounces delivered through the same period last year.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from August 2017 to August 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)
  Silver Gold
August 2018 520,245 38,904
July 2018 486,821 29,921
June 2018 229,280 16,847
May 2018 557,120 14,800
April 2018 458,655 15,161
March 2018 975,921 29,883
February 2018 992,954 26,473
January 2018 1,067,361 37,174
December 2017 874,437 27,009
November 2017 544,436 23,901
October 2017 999,425 44,618
September 2017 697,849 46,415
August 2017 392,091 23,130
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