Strong demand for silver
Silver coins have been a big seller in the precious metal trade for many weeks. This is also shown by the current sales figures from Australia. Last October, the Perth Mint reported the highest monthly silver sales since January 2016. According to the mint, 1,394,615 ounces of silver were delivered. Compared to the previous month, sales figures rose by 3.3 percent. Compared to October 2018, 29 percent more silver was sold.
Silver coin kangaroo
One of the most popular products is the silver coin kangaroo, which has enjoyed great popularity among investors since its first issue in September 2015. Last September, the Perth Mint announced that the 2020 issue of the kangaroo silver coin had to be brought forward due to high demand: silver coin kangaroo sold out: 2020 vintage comes earlier! In the period from January to October 2019, 9,184,184 ounces of silver were sold. This corresponds to an increase of 19 percent compared to the same period last year.
Gold sales weaker
In contrast, the gold business declined. At 32,469 ounces, gold sales were 30 percent lower than in the previous month and 12 percent lower than in October of the previous year. At 256,290 ounces, the 10-month figures are 17 percent down on the previous year. The Perth Mint produces numerous popular gold and silver products, mainly with motifs from the Australian animal kingdom.