Gold and Silver

Perth Mint’s November gold sales nearly double

Perth Mint’s November gold sales nearly double
Mining News Pro - The Perth Mint’s sales of gold products in November jumped about 94% from the previous month to an eight-month peak, the refiner said on Monday.
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Sales of gold coins and minted bars soared to 115,872 ounces last month, the highest level since March this year, from 59,750 ounces in October, and were up nearly 38% from a year earlier.

Silver product sales rose 13.2% to 1,530,598 ounces from 1,352,275 ounces in October, jumping about 37% from a year ago.

“A general pick-up in the appetite for physical gold coincided with the release of The Perth Mint’s 2022-dated Australian Kangaroo series. The response from our global distribution network was outstanding,” Neil Vance, the general manager of minted products, said in a blog post.

Global benchmark spot gold prices fell 0.5% in November as the U.S. Federal Reserve turned more hawkish, while silver dropped 4.4%.

The Perth Mint, owned by the government of Western Australia, refines more than 90% of the newly mined gold in Australia, one of the world’s biggest gold producers.


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