By Hubert Walker for CoinWeek….
In February 2016, the Perth Mint sold 37,063 ounces of gold and 1,049,062 ounces of silver in the form of coins and minted bars.
The Mint sold 10,696 fewer ounces of gold last month compared to January, representing a 22.40% decrease from the beginning of the year’s spike in demand. It sold 28.80% less silver last month as well, with sales down a total of 424,346 ounces.
Perth Mint Gold and Silver Sales, March 2014 – February 2016. Source: Perth Mint blog.
This is the slowest month for silver bullion sales since August of last year, when the Perth Mint sold 707,656 ounces. And so far this year, silver sales have yet to achieve anything like the jump they saw back in September, when 3,349,557 ounces were sold.
That month saw the release of both the new .9999 fine 2016 Silver Kangaroo bullion coin and the 2016 Gold Kangaroo bullion coin. The latest Australian Kangaroo issues came out on September 21, 2015.
February Gold sales, by contrast, were at their highest levels since October 2015, when the Mint sold 66,951 ounces.
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