Perth Mint Gold Coins Sales Double In September
Perth Mint Gold Coins Sales Double In September by Mark O’Byrne – Gold Core
– Perth Mint gold coins see sales double on month in September
– Perth Mint silver bullion coin sales surge 78% in September
– Perth Mint sold 46,415 ounces of gold in September
– Nearly six times more gold coins sold at Perth Mint than U.S. Mint in September
– Sales surge at Perth Mint from low base; could indicate trend change and higher demand in coming months
The Perth Mint’s sales of gold products doubled in September from a month earlier, while silver sales surged 78 percent, the mint said in a blog post on its website on Tuesday.
Sales of gold coins and minted bars jumped to 46,415 ounces in September from 23,130 ounces a month ago, the mint said.
Silver sales during the month also rose to 697,849 ounces, compared with 392,091 ounces in August.
The Perth Mint refines more than 90 percent of newly-mined gold in Australia, the world’s No. 2 gold producer after China.
Spot gold prices recorded their biggest monthly drop for the year in September, pressured by the strength of the U.S. dollar amid increasing prospects of a December interest rate hike by the Federal Reserve.
September Perth Mint gold coins sales topped U.S. Mint one ounce American Gold Eagle sales of 8,000 ounces by nearly six fold.
Perth Mint gold sales topped the U.S. Mint gold sales for the seventh month in a row.
Gold sales at the Perth Mint in September 2017 were down 21% from September 2016 sales of 58,811 ounces.
Perth Mint gold sales were up 101% in September from 23,130 ounces sold in August.
Sales of American Gold Eagles at the U.S. Mint in September 2017 were at a seventeen year low.
We will cover this in more depth tomorrow and compare and analyse the sharp increase in Perth Mint gold coin and silver coin demand with the still very low US Mint demand.