Perth Mint Silver Bullion Sales Top 1 Million Ounces in October

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.

Australian bullion sales slowed in October for the first time in five months for gold coins and bars and for the first time in four months for silver coins and bars, according Perth Mint figures published Nov. 1, 2018.

The most recent month-over-month declines lacked a lot of surprise. September was a standout month for the Mint with its silver sales the highest since March 2016 and its gold sales the strongest since January 2017.

Perth Mint bullion sales in October happened against a backdrop of rising precious metals with LBMA prices for the month posting gains of 2.3% for gold and 0.2% for silver.

Gold Bullion Sales in October 2018

Sales of Perth Mint gold coins and gold bars moved up by 36,840 ounces last month, marking declines of 41.1% from September and 17.4% from October 2018.

Year to date gold sales at 308,555 ounces are 1.9% lower than the 314,500 sold through the first ten months of last year.

Silver Bullion Sales in October 2018

The Perth Mint sold 1,079,684 ounces in silver coins and silver bars in October, dropping 17.3% from September but rising 8% from October 2017.

Demand for Australian silver bullion was solid last month despite the slowdown. The Perth Mint’s monthly silver sales have topped 1 million ounces only two other times in the last 15 months. Then consider June as a contrasting point, when silver sales totaled just 229,280 ounces for the lowest total since CoinNews started tracking the Perth Mint’s monthly data in February 2013.

Perth Mint silver sales for the year so far at 7,673,641 ounces are 6.6% lower than the 8,217,535 ounces sold 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 October 2017 to October 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
October 2018 1,079,684 36,840
September 2018 1,305,600 62,552
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
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