Fresh from the fairfax papers.. http://www.theage.com.au/business/markets-live/markets-live-china-data-buoys-asx-20130909-2teuu.html Gold sales from Perth Mint, which refines most of Australia's bullion, tumbled in August, adding to signs bullion demand in advanced economies is slumping as the US Federal Reserve prepares to curb stimulus. Sales of gold coins and minted bars dropped 46 per cent to 30,430 ounces last month from 56,488 ounces in July, according to data from the mint. Demand in August was 73 per cent lower than the pace in April, when bullion entered a bear market. ''The demand for physical when the price came down was just fantastic and we had some really good months in April, May and June,'' says Ron Currie, sales and marketing director at the mint. ''July was still good but not quite as good, and August dropped off a little bit.'' Spot gold is down 0.3 per cent at $US1388 an ounce, extending two weeks of losses. Gold has lost 17 per cent in 2013 after 12 years of gains as the US economy improved and the dollar and stocks advanced. The US central bank is widely expected to start cutting back its $US85 billion-a-month asset-buying program from next week Read more: http://www.theage.com.au/business/m...a-buoys-asx-20130909-2teuu.html#ixzz2eN3OKhaI Would be interesting to know the breakdown Insto/gov/private of the sales..
This is an overview of Perth Mint sales: (month) (silver) (gold) (ratio) 2012/04 207,109.91 17,575.640 11:1 2012/05 437,759.34 30,387.88 14:1 2012/06 523,663.46 44,619.05 11:1 2012/07 452,692.79 34,026.23 13:1 2012/08 338,945.22 37,196.86 9:1 2012/09 1,251,580.06 81,095.13 15:1 2012/10 457,700.76 54,242.76 8.4:1 2012/11 620,238.26 47,850.77 13:1 2012/12 449,529.58 49,581.81 9:1 2013/01 670,544.36 65,683.71 10:1 2013/02 426,319.29 44,048.62 9.7:1 2013/03 408,178.52 50,356.16 8:1 2013/04 1,102,465.96 111,505.06 10:1 2013/05 587,454.82 86,983.54 6.8:1 2013/06 588,630.13 47,047.83 12.5:1 2013/07 697,247.39 56,488.25 12.3:1 2013/08 691,258.63 30,430.10 22.7:1 Compare with US Mint: (month) (silver eagles) (gold eagles) (gold buffalos) (gold buffalos reverse proof) (ratio) 2013/01 7,498,000 150,000+72,500=222,500 34:1 2013/02 3,368,500 80,500+11,500=92,000 37:1 2013/03 3,356,500 62,000+11,000=73,000 46:1 2013/04 4,087,000 209,500+37,000=246,500 17:1 2013/05 3,458,500 70,000+12,500=82,500 42:1 2013/06 3,275,000 57,000+17,000=74,000 44:1 2013/07 4,406,500 50,500+18,500=69,000 64:1 2013/08 3,625,000 11,500+10,000+47,836=69,336 52:1 See, there is no uniform picture. Not across these 2 Mints and even not across any of them separately. Not between price and sales. The article claims 73% lower than april 2013 Perth Mint gold sales in august 2013. But april 2013 was a peak sales month, almost as high as january 2013. And the Perth Mint sales are still way higher than the 2012 sales. 2012/04 till 2012/08 gives a total gold of 163,805 2013/04 till 2013/08 gives 332,454 So that statement "Demand in August was 73 per cent lower than the pace in April, when bullion entered a bear market." is bullshit. It compares a peak month with a bottom month, while any fair comparison would just compare totals over X months, which gives doubled sales. Bullion entered a bear market with doubled sales, huh?
And if you believe that.. PM me for some dirt cheap property on the sun that is in HOT demand i can sell you as all the regular demand dried up after the central banks kept printing money.. lol.. now they are gonna stop at QE4 (effinity) 1for1
