Perth Mint Bullion Sales in November Steady for Silver and Strong for Gold


Australian bullion sales in November moved at a steady pace for silver products and quickened for products of gold, the latest figures from The Perth Mint show.

The Mint’s monthly bullion gains set against plunging precious metals with LBMA prices in November dropping 6.3% for gold and 6.2% for silver.

Bullion Sales in November 2020

Perth Mint sales of gold coins and gold bars totaled 84,158 ounces last month, scoring increases of 119.4% from October and 55.1% from November 2019. Of note, the Mint stated that they saw increased demand from international customers, and that a new gold coin also boosted sales.

"The launch of the Kangaroo coincided perfectly with the onset of lower gold prices in the back half of November, presenting our wholesale and retail clients with a great opportunity to secure the new coins," said Neil Vance, General Manager — Minted Products.

Year-to-date gold sales at 701,991 ounces are 126.1% higher than the 310,551 ounces sold last year through eleven months.

The Mint’s sales of silver coins and silver bars reached 1,119,296 ounces in November, representing a decline of 8.9% from October and an opposite 8.9% increase from November 2019. For a second month in a row, the silver sales total did not reflect true demand as it was impacted by reduced manufacturing capacity, with the Mint noting there was "unavoidable repair and maintenance to machinery in the factory."

Perth Mint silver sales for the year so far at 15,510,723 ounces are 51.9% higher than the 10,211,879 ounces 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 November 2019 to November 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
November 2020 1,119,296 84,158
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
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