Gold Sales at the Perth Mint in July 2016
The Perth Mint sold 16,870 ounces of gold in July 2016 down 67% year over year from 51,088 ounces sold in July 2015.
Gold sales at the Perth Mint in July 2016 were down 46% from June 2016 sales of 31,368 ounces.
Perth Mint says North American distributors well stocked with gold product negatively impacted July sales; post Brexit sales subdued.
Stunning Decline in Gold Sales
Perth Mint vs. U.S. Mint Gold Sales
Sales of American Gold Eagles at the U.S. Mint were also down sharply in July 2016 from July 2016. July U.S. Mint sales of one ounce American Gold Eagle coins were down 79% from July 2015 sales.
Perth Mint Gold Sales 2015 – 2016
Perth Mint gold sales cratered in July 2016.
The Perth Mint noted : “Slower summer sales in North America where distributors reported they were well stocked with product impacted Australian gold and silver minted products during July.”
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Perth Mint gold sales in July 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 1,370,000 one ounce American Silver Eagle coins and 30,000 one ounce American Gold Eagle coins in July 2016 for a silver to gold sales ratio of 45.66 to 1.
The Perth Mint sold 693,447 ounces of silver and 16,870 ounces of gold in July 2016 for a silver to gold sales ratio of 41.1 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 fell to 66 to 1 during July 2016.
The Gold Silver Ratio fell in June as silver’s increase outpaced gold’s.
Click here to see Perth Mint July Silver Sales
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