Gold and silver sales at the Perth Mint and the US Mint show good gains

The bullion sales graphs have been updated to take the figures for October into account. All in all, it seems to be a pretty good month with the exception of silver sales at the Perth Mint. That’s no reason for them to worry however, as last years figures for September and October were abnormally inflated by the debut of the new silver Kangaroo bullion coin, a low premium item struck purely for big numbers and leaving behind any pretence at being a semi-numismatic coin like the rest of the Perth Mints bullion silver. There are no figures for the Royal Canadian Mint (RCM) yet.

Sticking with the Perth Mint, gold bullion sales are up almost a fifth on the same time in 2015, and up over a third on September 2016. Both are good gains that aren’t shared by silver. That was up just 5% on September.

The United States Mint has more reason to be cheery perhaps. Silver has more than doubled from an admittedly disappointing September, but the rise on last year is pretty dismal. The good news is that the sales trajectory is firmly up after a very weak summer period. Gold has impressed greatly, up a quarter on September and 240% on the same month in 2015. Again, the trend is firmly upwards. The statistically insignificant Gold Buffalo also showed large rises to what is the best October for several years.

October numbers will have been unduly influenced by the impending US Presidential election, creating uncertainty and opportunity in equal measure. With Trump now the President-elect, we’re not sure either of those factors will improve. After a nasty campaign all round, we should see some semblance of normalcy return over the next couple of months. It’s possible that in the medium-term, Trump’s policy choices may give gold a much anticipated boost into a full bull market, hopefully dragging silver with it. Nobody seems to know for sure, certainly don’t ask a pollster after yesterdays debacle….

OCTOBER 2016 SALES FIGURES

SALES FOR MONTH (OUNCES) CHANGE FROM LAST MONTH CHANGE FROM LAST YEAR
PERTH GOLD 79,048 + 34% + 18%
PERTH SILVER 1,084,213 + 5% – 38%
GOLD EAGLE 116,000 + 23% + 240%
SILVER EAGLE 3,825,000 + 128% + 1%
BUFFALO 28,500 + 63% + 171%
RCM GOLD tbc tbc tbc
RCM SILVER tbc tbc tbc

 

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