Perth Mint Bullion Sales Contract in February

Demand for Australian products retreated last month but it was stronger than a year ago, Perth Mint sales figures for February show.

The Mint’s silver sales slowed following two straight month-over-month increases and they ended below one million ounces for the first time in seven months. Its gold sales were the weakest since August.

These sales registered against divided precious metals with LBMA prices in February rising 1.6% for gold and falling 3.9% for silver.

Bullion Sales in February 2020

Perth Mint sales of gold coins and gold bars totaled 22,921 ounces last month, down 52.5% from January but 59.6% higher than in February 2019.

Year to date gold sales at 71,220 ounces are up 40.4% from the 50,713 ounces sold during the first two months of last year.

February sales of the Mint’s silver coins and silver bar combined to 605,634 ounces, down a whopping 58.2% from the previous month but 3.7% higher than in February 2019. As for the disparity when comparing the most recent two months, it is worth noting that January sales at 1,450,317 ounces ranked third highest for a month since CoinNews started tracking the Mint’s data in February 2013.

Lastly, Perth Mint silver sales at 2,055,951 ounces for the year are 45.5% ahead of the 1,413,164 ounces sold during the same period in 2019.

Perth Mint Gold and Silver Sales by Month

Below is a monthly summary of Perth Mint bullion sales from February 2019 to February 2020. 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.