Perth Mint sales increased 22% in September
(Kitco News) - Figures from The Perth Mint show Demand for Australian bullion products surged in September. Sales of gold coins and bars are at their highest levels in five months and sales of silver coins and bars are the best in three months. The Mint’s minted bullion sales not only surpassed those from the prior month but those of a year ago. The Perth Mint’s level for gold bullion broke a streak of five straight monthly slowdowns which started following record sales in March.
These sales come as the gold and silver price falling in recent months. This could be part of the allure as is just August 2020 the gold price reached $2075.14/oz. Silver has also struggled after falling 25% between 18th May and 30th September 2021.
In terms of numbers, September sales of gold coins and gold bars combined to 98,753 ounces, scoring gains of 83% from August and 57.7% from September 2020. Year-to-date gold sales at 819,029 ounces are 41.3% higher than the 579,466 ounces sold during the same time last year.
Perth Mint September sales of silver coins and silver bars reached 1,789,926 ounces that is the most since June, logging increases of 22% from August and 6.7% from September 2020. In June, the Mint’s silver sales at 1,823,029 ounces ranked third-highest for a month according to CoinNews tracking data which dates to February 2013. (They were the second-highest for a month in February at 1,830,707 ounces.)
The Mint’s silver sales for the year so far at 14,475,515 ounces are 10% higher than the 13,162,714 ounces sold during the same period last year.
By Rajan Dhall
For Kitco News
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rdhall@kitco.comwww.kitco.com