Gold Bullion Sales at 3 year low

Gold Bullion Sales at 3 year low

Sales of Australian gold bullion fell toa 3-year all time low in May, where we saw the silver bullion miss the million ounce mark for the first time in 9 months, according to Perth Mint of Australia data released on Thursday, June 2.

Perth Mint bullion sales registered against a backdrop of falling precious metals with London fixings in May posting sharp losses of 5.7% for gold and 10% for silver.

It was the lowest monthly amount since CoinNews started tracking the Mint’s data in February 2013 for The Perth Mint. It sold 21,035 ounces in gold coins and gold bar.

To this date gold sales total 201,347 ounces for an advance of 46.3% from the 137,631 ounces sold through the first five months of 2015.

However Perth Mint sales of silver bullion increased in May by 974,865 ounces, down 16.1% from previous month but 188.8% higher than a year earlier.

In the period of January to May, the Mint’s silver sales at 6,415,339 ounces are 164.4% higher than last year’s starting five-month total of 2,426,408 ounces.

Category: Gold News
Tag: Australia Bullion Gold Low