Perth Mint Sees Gold and Silver Sales Slow Amid August Price Rises

The Perth Mint, a Western Australian government-owned refinery and coin producer, reported a decline in gold and silver sales for August. The mint sold 23,932 ounces of gold coins and bars, down from 30,871 ounces in July and lower than the same period last year. Silver sales also fell to 333,880 ounces from 486,043 ounces in July.

The drop in sales comes despite spot gold prices rising 10% in August and silver gaining over 15%. This trend is typical of retail buyers, who tend to pause after a rapid price increase and wait for a pullback or more certainty before making purchases.