Perth Mint's March gold sales hit 4-month high, silver up 48% m/m
The Perth Mint's gold product sales in March rose to a four-month high, while silver sales rose 48% from the previous month, the refiner said on Thursday, driven by strong demand.
The Perth Mint, owned by the government of Western Australia, is the world's leading producer of newly mined gold. It is also the largest refiner by volume in Australia, according to its website.
Each year, it processes nearly 75% of Australia's newly mined gold, making it a significant player in one of the world's top gold-producing countries.
Sales of gold coins and minted bars rose to 40 537 ounces in March, up 61% from February. On a year-on-year basis, they were up 147%.
Silver product sales increased to 713 306 ounces in March, but were down 17% year-on-year.
"Our gold Kangaroo coins are more popular than ever, with sales particularly strong in Australia and Germany. And our new silver Koala coins have also been very well received," said Neil Vance, Perth Mint's general manager of minted products.
Safe-haven gold has hit 20 record highs this year and touched an all-time peak of $3 148.88 on Tuesday, culminating in an overall year-to-date gain of 19.3%. Gold's rally has largely been driven by uncertainty surrounding US President Donald Trump's tariffs, strong demand from central banks and increased flows into gold-backed exchange traded funds.
Meanwhile, silver has gained over 17% so far this year.
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