Perth Mint Gold Bullion Sales Soften in August

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Australian bullion sales split in August, with tallies higher for coins and bars in silver but lower for those in gold, according to the latest data from The Perth Mint of Australia.

2021 Australia  Swan 1 oz Silver Bullion Coins - Obverse and Reverse
A CoinNews photo of 2021 Australia Swan 1 oz Silver Bullion Coins. Shown: obverse and reverse.

The monthly slowdown was a fifth in a row for the Mint’s gold bullion products following record sales in March. In fact, the monthly amount was the lowest since October.

Bullion Sales in August 2021

Perth Mint August sales of gold coins and gold bars combined to 53,976 ounces, marking declines of 23.6% from July and 20% from August 2020.

Year-to-date gold sales at 720,276 ounces are 39.4% higher than the 516,829 ounces sold during the leading eight months of last year.

General Manager Minted Products, Neil Vance said sales of Perth Mint physical gold bullion in August reflected an easing of demand among its key distributors worldwide. However, he noted, "demand for our gold coin and minted bar products remained comfortably above pre-COVID levels, which averaged 33,690 troy ounces per month between August and October 2019. Meanwhile, Perth Mint silver coins remained a key focus for investors. Higher output was achieved in August 2021 as coin presses were brought back online after a period of maintenance."

Perth Mint August sales of silver coins and silver bars totaled 1,467,229 ounces, posting increases of 12.6% from July and 2.5% from August 2020. As recently as June, the Mint’s silver sales at 1,823,029 ounces ranked third highest for a month according to CoinNews tracking data which dates back to February 2013.

The Mint’s silver sales for the year so far at 12,685,589 ounces are 10.5% higher than the 11,485,331 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 August 2020 to August 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)
  Silver Gold
August 2021 1,467,229 53,976
July 2021 1,302,723 70,658
June 2021 1,823,029 72,910
May 2021 1,700,807 91,146
April 2021 1,798,210 101,379
March 2021* 1,600,000 130,000
February 2021 1,830,707 124,104
January 2021 1,162,884 76,103
December 2020 941,767 76,806
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

*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."

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