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Gold Bullion Sales Down Last Month: World Mints

June 12, 2013 - Gold bullion sales are two high-volume mints were down substantially last month, according to published reports from the U.S. Mint and the Perth Mint.

The total number of ounces of gold sold by the Perth Mint in May was 86,983.54 and that includes bullion coins as well as bars. There were 111,505.06 ounces of gold sold in April, setting a Perth Mint all-time record for sales in one month.

The amount of gold bullion sold by the Perth Mint last month was still much higher than the amount of gold sold in May of last year. May 2012’s sales 30,387.88 ounces, barely one-third the total from May 2013.

The U.S. Mint, too, reported lower sales figures in May than in April, and the U.S. Mint’s weekly report shows that sales for June are happening at an even slower pace. The U.S. Mint sold just 70,000 ounces in gold coins in May, including the 5 Star General coins, First Spouse coins, Buffalo coins and American Eagle gold coins. The U.S. Mint sold 209,500 ounces of gold in April. So far in June the U.S. Mint has moved 22,000 ounces, the majority of which are one-ounce coins and the newly-available one-tenth(1/10) ounce coins.

Despite the slowdown, sales from January through April are helping keep the U.S. Mint’s hopes of beating last year’s sales record alive. A total of 753,000 ounces of gold bullion coins and numismatic coins were sold in 2012, and so far this year 594,000 ounces of gold coins have been sold as of last week.

Analysts have attributed heightened demand for gold bullion to the recent pullback in gold prices and investors’ newfound uneasiness about placing money into pool accounts, ETFs and other non-physical gold investments.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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