Gold Bullion Sales at The Perth Mint Continued to Climb in October

Demand for Australian gold bullion reached a three-month high in October, while demand for Australian silver bullion dipped slightly, according to figures from The Perth Mint of Australia.

The Mint’s bullion sales were influenced by the rising prices of precious metals for the month, with LBMA prices (USD) soaring 6.8% for gold and edging 0.5% higher for silver.

Perth Mint Silver Bullion Sales in October 2023

In October, the Mint reported sales of 1,073,553 ounces for minted silver coins and bars, representing declines of 3.9% from September and 46.2% from October 2022.

Year to date, The Perth Mint has sold 13,542,451 ounces of silver, marking a 33% decrease from the 20,226,098 ounces sold in the same period last year.

Perth Mint Gold Bullion Sales in October 2023

Meanwhile, the Mint’s total sales of gold coins and gold bars amounted to 42,302 ounces, the highest in three months, showing a 15.8% increase compared to September, but a 76.9% drop from October 2022 when the Mint’s gold sales reached a monthly record of 183,102 ounces.

Along with "reasonably strong" demand for sales of silver bullion coins, we "saw stronger sales of gold minted bars in North America. Struck from 99.99% pure gold with The Perth Mint’s LBMA registered mark, our minted gold bars offer investors highly competitive premiums," said Neil Vance, General Manager Minted Products.

Year-to-date gold sales stand at 576,072 ounces, which is 38.9% lower than the 942,031 ounces sold during the same period last year.

Monthly Perth Mint Gold and Silver Bullion Sales Since October 2022

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