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Perth Mint's Gold-Silver Sales Rise Amid Safe Haven Demand

1 Apr 2020 6:55 pm
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Mumbai (Commodities Control) – Sales of gold from Australia's Perth Mint's soared to their highest in about seven years, the refiner said on Wednesday, as fears over the economic fallout of the cornavirus prompted investors to buy the precious metal as a hedge.

Sales of gold coins and minted bars in March more than quadrupled to 93,775 ounces, the highest since April 2013, gaining more than 309.1% month-on-month and 186.3% higher than the same period last year, the mint said in a blog post.

Sales of silver coins in March jumped about 187% from February, and rose 85.5% from the same period last year, to 1,736,409 ounces, its highest since March 2016.

The Perth Mint refines more than 90% of newly mined gold in Australia, one of the world's top gold producers.

(Commodities Control Bureau)


       
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