SMM: Australia's Perth Mint data show that its gold sales increased significantly in November.
Global gold prices fell sharply in November, the worst month in four years, falling more than 5%, but lower prices boosted demand for gold.
Sales of its gold products doubled month-on-month in November, with a lot of demand from overseas customers, especially German investors, according to Perth Mint.
But sales of its silver products fell in November.
Specific figures show that its gold coin sales rose to 84158 ounces in November, the highest level since April, up 119 per cent from the previous month and 55 per cent from a year earlier.
Kyle Rodda, an analyst at IG Markets, said the growth in demand for gold coins shows that gold demand for investors is still positive in the long run.
The global economy has been hit by the epidemic this year, and central banks and governments have adopted extremely loose policies, pushing gold prices sharply higher.
Silver coin sales at the Perth Mint fell 8.9 per cent to 1.119269 million ounces in November from a month earlier, though up 8.9 per cent from a year earlier.
