Perth Mint’s August gold, silver sales rise on lower prices

Sept 4 (Reuters) – Sales of gold products by the Perth Mint
in August rose from a month earlier to their highest since
October 2017, as lower bullion prices attracted buying, the mint
said on Monday.
Sales of gold coins and minted bars surged 30 percent to
38,904 ounces last month, the mint said in a blog post.
Gold sales in August nearly doubled from a year-ago period.
“Lower bullion prices continued to support interest in our
minted products among investors,” a company spokesman said.
Gold prices fell about 2 percent in August, declining for a
fifth straight month in their longest losing streak in
5-1/2-years.
Silver sales rose nearly 7 percent from July to 520,245
ounces. From a year earlier, sales advanced about 33 percent.
Silver prices fell 6.5 percent in August, marking their
third straight monthly decline.
The Perth Mint refines more than 90 percent of newly mined
gold in Australia, the world’s second-largest gold producer
after China.
Gold fell on Monday, with prices dropping below the $1,200
technical level, as the dollar strengthened on worries over the
potential for more tariffs between the United States and China
as part of their trade war.

Period Gold (oz) Silver (oz)
(year-month)
2018-August 38,904 520,245
2018-July 29,921 486,821
2018-June 16,847 229,280
2018-May 14,800 557,120

2018-April 15,161 458,655
2018-March 29,883 975,921
2018-Feb 26,473 992,954
2018-Jan 37,174 1,067,361
2017-Dec 27,009 874,437
2017-Nov 23,901 544,436
2017-Oct 44,618 999,425
2017-Sept 46,415 697,849
2017-Aug 23,130 392,091
2017-July 23,675 1,167,963
2017-June 19,259 1,215,071
2017-May 29,679 826,656
2017-April 10,490 468,977
2017-March 22,232 716,283
2017-Feb 25,257 502,353
2017-Jan 72,745 1,230,867
2016-Dec 63,420 430,009
2016-Nov 54,747 984,622
2016-Oct 79,048 1,084,213
2016-Sept 58,811 1,031,858
2016-Aug 14,684 376,461
2016-July 16,870 693,447
2016-June 31,368 1,220,817
2016-May 21,035 974,865
2016-April 47,542 1,161,766
2016-March 47,948 1,756,238
2016-Feb 37,063 1,049,062
2016-Jan 47,759 1,473,408

(Reporting by Nallur Sethuraman in Bengaluru; Editing by
Subhranshu Sahu)