Gold sales by Perth Mint drop to 3-year low in Jan 2015

 

CANBERRA (Scrap Monster): The sale of gold coins and minted gold bars by Perth Mint dropped to their lowest level in three years during the month of January this year. The gold prices had appreciated by nearly 8% during the month, while silver prices had surged nearly 10%. Meanwhile, the mint’s silver coin sales rose sharply during the month. The Perth Mint’s silver coin sales had suffered drop of nearly 12% in 2014

 

According to official data published on Mint’s website, the sale of gold coins and minted gold bars during Jan ‘15 totaled 23,174 ounces, which is the lowest since April 2012. When compared with the previous month, the sales have dropped by nearly 42%. The sales had totaled 40,211 ounces in December ’14. Year-on-year, sales have declined 64.2% from 64,818 ounces in Jan ’14.

 

The mint’s silver coin sales during Jan ‘15 totaled 585,953 ounces. The sales grew nearly 23% when matched with the Dec ’14 sales of 477,731 ounces. When compared with same month the previous year, silver coin sales have dropped by 36%. The sales had totaled 912,388 ounces in Jan ’14.

 

The Perth Mint is the only gold refinery in Australia. It mints and sells gold coins, minted gold bars and silver coins.

 

The gold sales figures include coins and minted bars. Silver sales figures include only coins as the mint does not issue silver bars.