Perth Mint Gold Bullion Sales Drop in February

February sales of Australian bullion jumped for silver products but fell for gold products to their lowest point since October 2020, according to figures from The Perth Mint of Australia.

The Mint’s bullion sales set against plunging precious metals with LBMA prices (USD) in February tumbling 5.2% for gold and 10.7% for silver.

Perth Mint Gold Bullion Sales in February 2023

Perth Mint February sales of minted gold coins and bars combined to 52,241 ounces, posting declines of 18.9% from the prior month and 28.1% from February of last year. The monthly level was the lowest since sales of 38,367 ounces in October 2020.

"While still buoyant in historical terms, the result to some extent reflected the fact that we did not unveil any new gold investor coins during the month," said Neil Vance, General Manager Minted Products.

Perth Mint gold sales for the year to date at 116,636 ounces are 16.3% lower than the 139,360 ounces sold through the same period last year.

Perth Mint Silver Bullion Sales in February 2023

February sales of the Mint’s silver coins and bars reached 1,484,936 ounces, marking a 20.4% increase from January but a 9% decline from February 2022.

"Silver sales bounced higher, with available press time fully utilized over the course of the period. As a result, the Mint shipped everything it produced in February," the Mint noted.

Their year-to-date silver sales at 2,718,280 ounces are 33.4% lower than the 4,019,488 sold during the first two months of last year.

Monthly Perth Mint Gold and Silver Sales

Below is a monthly summary of Perth Mint bullion sales from February 2022 to February 2023. 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.