Gold Sales at the Perth Mint in August 2016
The Perth Mint sold 14,684 ounces of gold in August 2016 down 53% year over year from 31,390 ounces sold in August 2015.
Gold sales at the Perth Mint in August 2016 were down 13% from July 2016 sales of 16,870 ounces.
Perth Mint says lower gold and silver sales in August ‘reflected the trend for lower volumes reported by precious metal businesses worldwide.’
Continued Stunning Decline in Gold Sales
Why Are Physical Gold and Silver Sales Falling?
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Perth Mint vs. U.S. Mint Gold Sales
Sales of American Gold Eagles at the U.S. Mint rebounded in August from low July sales. August U.S. Mint sales of one ounce American Gold Eagle coins were up 67% from July 2016 sales.The Perth Mint saw no such increased and indeed fell again in August after plummetting 67% in July.
Perth Mint Gold Sales 2015 – 2016
Perth Mint gold sales continued their descent in August 2016.
The Perth Mint noted : “A decline in sales of Australian precious metal minted products for physical delivery in August reflected the trend for lower volumes reported by precious metal businesses worldwide..”
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Perth Mint gold sales in August were the lowest in more than five years.
Silver to Gold Sales Ratios at the U.S. and Perth Mints
The U.S. and Perth Mints have been selling proportionally increasing amounts of silver to gold.
The U.S. Mint sold 1,280,000 one ounce American Silver Eagle coins and 50,000 one ounce American Gold Eagle coins in August 2016 for a silver to gold sales ratio of 25.6 to 1.
The Perth Mint sold 376,461 ounces of silver and 14,684 ounces of gold in August 2016 for a silver to gold sales ratio of 25.64 to 1.
The Gold Silver Ratio
In contrast, to the silver to gold sales ratio, the gold silver ratio measures how many ounces of silver it takes to buy one ounce of gold.
The gold silver ratio rose to 70 to 1 during August 2016.
The gold silver ratio rose in August as silver’s decline outpaced gold’s.
Click here to see Perth Mint August Silver Sales
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