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Perth Mint gold and silver bullion sales slowed in October

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/

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