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.
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.