As the prices of silver tumbled last month, the Perth Mint saw the Australian sales of bullion gold escalate to a nine-month high while the silver jumped to an eighth-month high in July. Mint bullion sales also shot passed their year-ago levels.
Last month, Perth Mint’s order of gold coins and gold bars speared to 51,088 ounces, a 67% rise from the 31,019 ounces sold out in June. This is also more than double than the 25,103 ounces sold in July 2014. It was also the highest tally since October last year. For the year to date, gold sales combine to 219,738 ounces, 17.4% dip from the same period last year when they reached 266,094 ounces.
In case of silver coins, the sale plummeted to 746,700 ounces in July, which was a 94.2% rise from last month’s 384,586 ounces and 29.2% surpassing than the 577,988 ounces sold during the same month last year. Silver coin sales were the highest since November 2014. Silver sales from the January through July period hit 3,557,694 ounces, off 11.2% from last year’s starting seven-month total of 4,006,324 ounces.
The soaring in sales for gold and silver was aptly seen in Perth Mint release for its 2015 Australian Funnel-Web Spider 1oz Silver Bullion Coin, which is no longer available as the sales have rose to 1 million maximum in less than six months.