2016-07-21 Thu

The demand for Australian bullion coins reduced in May to reach a 3-year low but picked up in June. The overall sale is reportedly impressive for the first half of the year. The price of precious metals was increasing but with London fixing, sale of gold coins increased to 9% and that of silver increased by 14.3%.

The Perth Mint sold 31,368 ounces in gold coins and gold bars in June which means it saw a 49.1% increase over May sales. The increase in sale was 1.1% more than that was recorded last year in the same month.

After UK’s Brexit vote, investors started looking at other options like bullion coins and bars.

Gold sales totals to 232,715 ounces in the first half of 2016, which is 38% higher than last year’s number of 168,650 ounces.

Sliver sale increased to 1,220,817 ounces last month, which is 25.2% higher than the previous month and 217.4% from June 2015.

Silver sales made a total of 7,636,156 ounces, which means its 171.7%. higher than 2,810,994 ounces that was recorded last year.