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Perth Mint’s March gold sales surge to highest since 2012

(Adds graphics) April 6 (Reuters) – Perth Mint’s gold sales climbed to their highest since at least 2012 in March as a fall in prices of the metal lifted demand for minted products, the refiner said in a blog post on Tuesday. Sales of gold coins and minted bars jumped to more than 130,000 ounces in March, up 4.8% month-on-month and 39% from a year earlier. “The market continues to take everything we can make at present,” said Neil Vance, general manager at Minted Products, noting above average demand in key markets like the United States and Germany. Benchmark spot gold prices fell for a third consecutive month in March, with a drop of 1.5%. Over the first quarter they were down almost 10%, the biggest such fall in more than four years. Silver sales, meanwhile, declined 12.6% to about 1.6 million ounces last month. “…interest in silver is outstripping our capacity to convert plentiful supplies into finished goods,” Vance said. In the first quarter this year, the Perth Mint sold more than 330,000 ounces of gold, and more than 4.5 million ounces of silver, according to Jordan Eliseo, manager of listed products and investment research at the mint. “These figures represent the highest calendar quarter on record for gold, and the fourth highest calendar quarter on record for silver.” Silver prices fell for a second month in March, by 8.4%, and were down 7.5% over the first quarter. The Perth Mint, owned by the government of Western Australia, refines more than 90% of the newly mined gold in Australia, one of the world’s top gold producers. Period Gold (oz) Silver (oz) (year-month) 2021-Mar 130,000 1,600,000 2021-Feb 124,104 1,830,707 2021-Jan 76,103 1,162,884 2020-Dec 76,806 941,767 2020-Nov 84,158 1,119,269 2020-Oct 38,367 1,228,713 2020-Sept 62,637 1,677,383 2020-Aug 67,462 1,431,036 2020-July 56,104 1,567,900 2020-June 44,371 1,573,752 2020-May 63,393 997,171 2020-April 120,504 2,123,121 2020-March 93,775 1,736,409 2020-Feb 22,921 605,634 2020-Jan 48,299 1,450,317 2019-Dec 78,912 1,361,723 2019-Nov 54,261 1,027,695 2019-Oct 32,469 1,394,615 2019-Sept 46,837 1,350,038 2019-Aug 21,766 1,171,233 2019-July 21,518 987,040 2019-June 19,449 344,474 2019-May 10,790 681,582 2019-April 19,991 906,219 2019-March 32,757 935,819 2019-Feb 19,524 584,310 2019-Jan 31,189 828,854 2018-Dec 29,186 692,971 2018-Nov 64,308 876,446 2018-Oct 36,840 1,079,684 2018-Sept 62,552 1,305,600 2018-Aug 38,904 520,245 2018-July 29,921 486,821 2018-June 16,847 229,280 2018-May 14,800 557,120 2018-April 15,161 458,655 2018-March 29,883 975,921 2018-Feb 26,473 992,954 2018-Jan 37,174 1,067,361 2017-Dec 27,009 874,437 2017-Nov 23,901 544,436 2017-Oct 44,618 999,425 2017-Sept 46,415 697,849 2017-Aug 23,130 392,091 2017-July 23,675 1,167,963 2017-June 19,259 1,215,071 2017-May 29,679 826,656 2017-April 10,490 468,977 2017-March 22,232 716,283 2017-Feb 25,257 502,353 2017-Jan 72,745 1,230,867 (Reporting by Anjishnu Mondal in Bengaluru, additional reporting by Nakul Iyer; Editing by Kirsten Donovan and Marguerita Choy)


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