October 3, 2018 / 3:45 AM / 13 days ago

Perth Mint's Sept gold, silver sales soar

    Oct 2 (Reuters) - Sales of gold products by the Perth Mint
surged in September to their highest since January 2017, while
silver sales more than doubled from August to mark an over
two-year peak, boosted by lower bullion prices, the mint said on
Wednesday. 
    Sales of gold coins and minted bars surged 61 percent from
August to 62,552 ounces last month, the mint said in a blog
post.
    Gold sales in September rose about 35 percent from a
year-ago period.
    Gold prices dropped 0.8 percent in September, declining for
a sixth consecutive month in their longest losing streak in two
decades.
    "We have experienced added interest in our bullion coins
since the drop in price of both gold and silver during August.
Some of this is down to the previously dormant U.S. market,
which at last is showing signs of reawakening," said Neil Vance,
Group Manager, minted products, at Perth Mint.
    Silver sales soared 151 percent from August to 1,305,600
ounces, their highest since March 2016. 
    From a year earlier, sales advanced about 87 percent.
    Silver prices inched up 0.7 percent in September, after
falling for three straight months, and marking an over 9 percent
decline in the quarter ended September.  
    The Perth Mint refines more than 90 percent of newly mined
gold in Australia, the world's second-largest gold producer
after China.
    Gold prices edged up on Wednesday after gaining over 1
percent in the previous session, buoyed by safe-haven demand as
Italy's budget plan sets it on course for a potential clash with
the European Union.
        
            Period       Gold (oz)       Silver (oz)
      (year-month)                  
    2018-September         62,552          1,305,600
       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 Vijaykumar Vedala in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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