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Perth Mint's July gold, silver sales surge

Kitco News

Aug 3 (Reuters) - The Perth Mint's sales of gold products nearly doubled in July from a month earlier, its highest since January, while silver sales more than doubled, the mint said on Friday.

Sales of gold coins and minted bars climbed about 78 percent to 29,921 ounces in July, up from 16,847 ounces reported in June, the mint said in a blog post.

Gold sales in July were also up 26.4 percent compared with the same month last year.

Silver sales in July were at 486,821 ounces, up from 229,280 ounces in June, and marked an over-58 percent decline compared with a year-ago period.

The Perth Mint refines more than 90 percent of newly mined gold in Australia, the world's second-largest gold producer after China.

Gold prices fell 2.3 percent in July, down for a fourth straight month, marking its longest losing streak since 2013.

Spot gold was up 0.1 percent at $1,209.15 an ounce at 0050 GMT, after hitting the lowest since July 2017 at $1,206.80 in the previous session.

 (Reporting by Sumita Layek in Bengaluru; Editing by Sunil Nair)


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