Sales slowed in July for Australian bullion products minted in gold and silver, according to the latest figures from The Perth Mint of Australia.
For the year to date, however, both gold and silver bullion sales continue to register well higher than the same period last year.
Bullion Sales in July 2021
Perth Mint July sales of gold coins and gold bars reached 70,658 ounces, slipping 3.1% from June but 25.9% higher than in July 2020. The monthly level was the weakest since October.
Year-to-date gold sales at 666,300 ounces are 48.3% higher than the 449,367 ounces sold during the leading seven months of last year.
Perth Mint July sales of silver coins and silver bars combined to 1,302,723 ounces, the lowest amount since January and marking declines of 28.5% from June and 16.9% from July 2020. Of note, the Mint’s silver sales in June at 1,823,029 ounces rank third best for a month according to CoinNews tracking data which dates back to February 2013.
General Manager Minted Products, Neil Vance reported that while demand for gold minted products had stabilized in line with June’s result, the dip in silver coin sales was a result of capacity issues. "Wholesale demand stayed stronger than our July figures suggest after we took several presses offline for maintenance," he said.
The Mint’s silver sales for the year so far at 11,218,360 ounces are 11.6% higher than the 10,054,295 ounces sold during the same period last year.
Perth Mint Gold and Silver Sales by Month
Below is a monthly summary of Perth Mint bullion sales from July 2020 to July 2021. 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)|
*Perth Mint published approximated sales data for March. Specifically, the Mint stated that during March it shipped "more than 130,000 troy ounces of gold and almost 1.6 million troy ounces of silver."