Small signs of gold sales recovery last month unfounded as they plummet again. Silver struggling.

It’s the time for a look back at last months bullion coin sales from Perth and the United States Mint (no new Canadian figures yet). Last month we noted an upturn from one of the worst April performances in recent years (we track the last 5 years), with the hope that things were looking up. As you might have guessed, no such luck and we’re back in the pit…

The sole spark is a surge in silver coin sales at the Perth Mint which saw it rise to a near record over the last half decade, a surge of almost 50%, but as this is only the second June in which the high-volume Silver Kangaroo has been on sale, less impressive than it seems at first glance. Year to date sales are down a huge 42% on last year. Gold sales for this Australian Mint are back below 20,000 ounces for only the 4th month in the last 54, not reaching the terrible lows of April, but still down a third on both May 2017 and April 2016. Numbers for the year to date aren’t quite as bad, down almost a quarter on 2016.

American Silver Eagle (ASE) numbers hit their second lowest monthly numbers since 2012 (outside of the often supply-constrained Decembers), the absolute lowest being April 2017. Below one-million ounces again, it represents a precipitous drop on May 2017 of 60%, numbers barely achieving a third of June 2016, itself hardly a stellar month. Still, at least the ASE has the distinction of not being its gold sibling. With just 6,000 ounces sold in June, AGE sales continue to literally bump along the bottom, with each of the last four months being the lowest since we started tracking in Jan 2013. Down just under 60% on May and a staggering 92% on last June, the AGE is taking a real battering, down almost two-thirds on the same year-to-date as 2016.

As usual with the expert analysis we’re absolutely not known for, we aren’t stupid enough to predict where it’s heading for the rest of 2017. A greatly unbalanced economic picture and turbulent politics do not make a stable mix for the smart predictors and anybody who tells you they’re sure gold is heading to $500 or to $5,000 is talking out of their butts, in our opinion. As a collectors site and not one offering financial advice, we will maintain that there’s never been more quality choice in the silver bullion coin market than there is now. How much of it you buy is a decision reached with careful consideration and no small amount of risk. Our graphs (blue button link below) will give you a nice visual summary of the last five years, however.