Demand for Australian bullion picked up in September, according to figures from The Perth Mint of Australia, after August sales of both gold and silver products hit their lowest point in 3-1/2 years.
The Perth Mint’s bullion sales were set against tumbling precious metals in September, with LBMA prices (USD) falling 3.7% for gold and dropping 6% for silver.
Perth Mint Gold Bullion Sales in September 2023
In September, the Mint’s total sales of gold coins and gold bars amounted to 36,530 ounces, showing a 4.8% increase compared to August, when sales hit their lowest monthly point since February 2020, but they still marked a 58.8% decrease from September 2022.
Year-to-date gold sales at 533,770 ounces are 29.7% lower than the 758,929 ounces sold during the same period last year.
Perth Mint Silver Bullion Sales in September 2023
During the month, the Mint registered sales of 1,116,779 ounces for minted silver coins and bars, which increased by 40.9% from the prior month when sales, like those for gold, reached their lowest monthly level since February 2020, but were 56.7% lower than in September 2022.
"Despite slower overall market conditions, there was an upsurge in interest for 2oz denominated silver coins. A more unusual size, we delivered almost 550,000 pieces to clients in the United States," said Neil Vance, General Manager Minted Products.
Year to date, the cumulative sales of silver from The Perth Mint amount to 12,468,898 ounces, indicating a 31.6% decrease compared to the 18,230,748 ounces sold in the corresponding period last year.
Monthly Perth Mint Gold and Silver Bullion Sales Since September 2022
Below is a monthly summary of Perth Mint bullion sales from September 2022 to September 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.
| Perth Mint Bullion Sales (in troy ounces) | ||
|---|---|---|
| Silver | Gold | |
| September 2023 | 1,116,779 | 36,530 |
| August 2023 | 792,503 | 34,875 |
| July 2023 | 863,485 | 44,009 |
| June 2023 | 1,326,011 | 73,124 |
| May 2023 | 1,881,001 | 72,889 |
| April 2023 | 1,947,743 | 75,166 |
| March 2023 | 1,823,096 | 80,541 |
| February 2023 | 1,484,936 | 52,241 |
| January 2023 | 1,233,344 | 64,395 |
| December 2022 | 1,634,751 | 60,634 |
| November 2022 | 1,315,293 | 114,304 |
| October 2022 | 1,995,350 | 183,102 |
| September 2022 | 2,579,941 | 88,554 |
