A CoinNews photo showing both sides of the Australian Kookaburra 1oz silver coins 2022
Sales of Australian gold and silver bullion products declined in October compared to the previous month, but were higher than a year earlier, according to figures from The Perth Mint of Australia.
Coin sales were against the backdrop of rising precious metal prices, with LBMA prices increasing by 1.5% for gold and 11.5% for silver in October.
Precious metals sales in October 2021
Perth Mint sold gold coins and gold bars combined to 59,750 ounces in October, down 39.5% from September and up 55.7% from October 2020.
“While monthly volumes were historically high, gold coin sales in October reflected more subdued demand in key markets such as Europe and the US,” said Neil Vance, general manager of Minted Products
Year-to-date gold sales are 878,779 ounces, 55.7% above the 617,833 ounces sold in the same period last year.
Perth Mint’s October sales of silver coins and silver bars were 1,352,275 ounces, a 24.5% decrease from September while increasing 10.1% from October 2020, which is dated February 2013. (They were the second highest for a month at 1,830,707 ounces in February.)
“With stocks reserved for new coin introductions in the previous month exhausted, silver sales in October reflected total monthly production from our factory,” added Vance.
The Mint’s silver sales for the year to date are 15,827,790 ounces, 10% higher than the 14,391,427 ounces sold in the same period last year.
Perth Mint Gold and Silver Sales by Month
The following is a monthly summary of the Perth Mint’s bullion sales from October 2020 through October 2021. The figures show monthly ounces of gold and silver supplied by The Perth Mint as minted products to wholesale and retail customers worldwide. Excludes sales of cast ingots and other group activities including sales of allocated / unallocated precious metal for depositary storage.
| Perth Mint Precious Metals Sales (Troy Ounces) | ||
|---|---|---|
| silver | gold | |
| October 2021 | 1,352,275 | 59,750 |
| September 2021 | 1,789,926 | 98,753 |
| 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 |
* Perth Mint released approximate sales data for March. Specifically, the Mint stated that it had delivered “more than 130,000 troy ounces of gold and almost 1.6 million troy ounces of silver” in March.
Article Source : https://www.coinnews.net/2021/11/25/perth-mint-gold-and-silver-bullion-sales-slow-in-october/
