Silver and gold sales spike in aug/sept 2018
I just read that the silver and gold bullion sales in August and September "rocketed up" . The lower spot price of both metals is probably the main reason of the higher sales. Earlier this year sales were disappointing. So let us look at the sales of the two largest mints; Perth Mint and US Mint (ASE). A few graphs show it all. Look at the green columns for aug/sep 2018.
Silver sales
Gold sales
some numbers (in USD)
Mint | Type | Ounces | Price per ounce | Total sales in M aug/sep '18 |
---|---|---|---|---|
US | ASE | 4427500 | 14.5 | 64.2 |
Perth | var. silver | 1825845 | 14.5 | 26.5 |
US | AGE | 42000 | 1220 | 51.2 |
Perth | var. gold | 101456 | 1220 | 123.8 |
You see here that the amount of gold bullion coins sold is considerably larger than the silver coins. Professional buyers do buy silver bars and these are not included but neither are gold bars. I have to check other sources - another time - to see if there are more gold sales than silver. I expect more gold value is sold than silver however mainly due to big buyers like India, China and Middle East where gold still is the standard....
See you later
Goldrooster
Smart people love bargain prices...
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It looks like we found the bottom to me, 14 ish is too low!