Perth Mint’s April gold sales rise 6%, silver drops to eight-month low

Perth Mint’s gold product sales climbed 6% in April from the previous month, while silver sales nearly halved to hit an eight-month low, the refiner said on Thursday.

Sales of gold coins and minted bars rose 6% to 46,106 ounces last month from 43,656 ounces in March, and were up 5% on a year-on-year basis.

Silver sales fell to 496,212 ounces last month from 976,450 ounces in March, and were down about 31% on a year-on-year basis.

“Demand for minted products in April was broadly consistent across the Mint’s core range. This reflects steady global interest despite a more volatile pricing environment,” said Neil Vance, general manager-minted products, Perth Mint.

Spot gold prices fell 1% in April as elevated energy prices due to the Iran war fuelled fears of inflation and higher-for-longer interest rates, weighing on greenback-priced bullion.

Meanwhile, silver slid about 1.8% last month.

Owned by the government of Western Australia, the Perth Mint is the world’s leading producer of newly mined gold and Australia’s largest refiner by volume, according to its website.

(By Pablo Sinha; Editing by Sherry Jacob-Phillips)