Perth Mint's gold and silver sales remained firm in April

AUSTRALIA (May 11)  The Perth Mint sold 80,941 troy ounces (oz) of gold and 2,119,491 oz of silver in minted product form during April. In addition to this, the Perth Mint depository saw marginal increases in both gold and silver holdings. General Manager Minted Products, Neil Vance said April represented another solid month for sales of Australian bullion coins and bars on the international market. “Demand continued to keep our silver production lines working at or near capacity for the month”.

Vance added “With less machine downtime, we managed to ship more product than each of the preceding two months" he also noted “Sales of gold products slipped after tracking higher for several months,” he added. “Even so, there was immediate take up of our limited Dragon coins in the unusual bar-shaped format, for which we have a strong following.”

Looking closer into the numbers, Total gold holdings in The Perth Mint depository increased by 0.12% during April, with silver also in positive territory. Over the last 12 months, holdings of gold have increased by 4%. Silver holdings are up by 1% compared to three months ago.

Lastly, looking at the ETF Perth Mint Gold (ASX:PMGOLD) there were continued inflows during April, with holdings increasing by 2,508 oz (+0.97%) for the month. Total holdings have now topped 260,000 oz for the first time, a new all-time high, with investors increasing holdings in each of the past eight months.

KITCO