Perth Mint Gold Bullion Sales Slow in October

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2021 Australian Year of the Ox 1oz Silver Bullion Coin
A CoinNews photo of a 2021 Australian Year of the Ox 1oz Silver Bullion Coin (reverse)
Australian bullion sales in October remained firm for silver products but eased for gold products, the latest figures from The Perth Mint show.

The Mint’s monthly bullion gains set against declining precious metals with LBMA prices in October slipping 0.3% for gold and 0.4% for silver.

Bullion Sales in October 2020

Perth Mint sales of gold coins and gold bars totaled 38,367 ounces last month, off 38.8% from September but 18.2% higher than in October 2019.

Year-to-date gold sales at 617,833 ounces are 141.1% higher than the 256,290 ounces sold last year through ten months.

The Mint’s sales of silver coins and silver bars totaled 1,228,713 ounces in October, logging declines of 26.8% from September and 11.9% from October of last year. The Minted noted that the monthly decrease did not reflect demand but instead a "bottleneck" in manufacturing.

"We sold every ounce of silver product we were able to fabricate in October 2020," said Neil Vance, General Manager — Minted Products. "Technical issues in our factory will shortly be resolved, allowing us to resume full production and meet more of the demand from our clients."

Silver sales for the year so far at 14,391,427 ounces are 56.7% higher than the 9,184,184 sold through the same period in 2019.

Perth Mint Gold and Silver Sales by Month

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

Perth Mint Bullion Sales (in troy ounces)
  Silver Gold
October 2020 1,228,713 38,367
September 2020 1,677,383 62,637
August 2020 1,431,036 67,462
July 2020 1,567,900 56,104
June 2020 1,573,752 44,371
May 2020 997,171 63,393
April 2020 2,123,121 120,504
March 2020 1,736,409 93,775
February 2020 605,634 22,921
January 2020 1,450,317 48,299
December 2019 1,361,723 78,912
November 2019 1,027,695 54,261
October 2019 1,394,615 32,469
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