The Perth Mint's sales of gold and silver products fell in August, in line with a trend reported by precious metal businesses worldwide, the mint said in a blog post on its website on Wednesday. Sales of gold coins and minted bars in August dropped by about 13 percent to 14,684 ounces - the lowest monthly figure in four years, the mint said. Sales in July stood at 16,870 ounces. Silver sales nearly halved to 376,461 ounces in August from 693,447 ounces in July. Period Gold (oz) Silver (oz) Aug-16 14,684 376,461 Jul-16 16,870 693,447 Jun-16 31,368 1,220,817 May-16 21,035 974,865 Apr-16 47,542 1,161,766 Mar-16 47,948 1,756,238 Feb-16 37,063 1,049,062 Jan-16 47,759 1,473,408 Dec-15 40,096 1,083,460 Nov-15 31,664 1,145,239 Oct-15 66,951 1,751,898 Sep-15 63,791 3,349,557 Aug-15 33,390 707,656 Jul-15 51,088 746,700 Jun-15 31,019 384,586 May-15 21,671 337,511 Apr-15 26,545 472,273 Mar-15 34,260 638,557 Feb-15 31,981 392,114 Jan-15 23,174 585,953 http://hotcopper.com.au/resources/perth-mints-gold-silver-sales-fall-in-august.16317/#.V8-OCq2yP54
Does this reflect falling physical sales to private buyers, while the gold price still trends upwards due to growing institutional interest in paper gold? Perhaps private buyers are more price sensitive/risk averse?
Could it be expected new releases? Like Roster is coming out tomorrow, so I expect the seasoned stackers have been gearing up. Have a look at sep 2015 figures lol.
Exactly what you'd expect given the rise in silver in AUD Obviously people now think that silver isn't "cheap" any more.
No one has any money, didn't you hear everyone is in debt. Mortgages, loaned out, living pay check to pay check, maxed out credit card. Who's got money to buy precious metals?
