Perth Mint's Sept Gold, Silver Sales Soar
Oct 2 (Reuters) - Sales of gold products by the Perth Mintsurged in September to their highest since January 2017, whilesilver sales more than doubled from August to mark an overtwo-year peak, boosted by lower bullion prices, the mint said onWednesday.
Sales of gold coins and minted bars surged 61 percent fromAugust to 62,552 ounces last month, the mint said in a blogpost.
Gold sales in September rose about 35 percent from ayear-ago period.
Gold prices dropped 0.8 percent in September, declining fora sixth consecutive month in their longest losing streak in twodecades.
"We have experienced added interest in our bullion coinssince the drop in price of both gold and silver during August.Some of this is down to the previously dormant U.S. market,which at last is showing signs of reawakening," said Neil Vance,Group Manager, minted products, at Perth Mint.
Silver sales soared 151 percent from August to 1,305,600ounces, their highest since March 2016.
From a year earlier, sales advanced about 87 percent.
Silver prices inched up 0.7 percent in September, afterfalling for three straight months, and marking an over 9 percentdecline in the quarter ended September.
The Perth Mint refines more than 90 percent of newly minedgold in Australia, the world's second-largest gold producerafter China.
Gold prices edged up on Wednesday after gaining over 1percent in the previous session, buoyed by safe-haven demand asItaly's budget plan sets it on course for a potential clash withthe European Union.
(Reporting by Vijaykumar Vedala in Bengaluru, Editing by SherryJacob-Phillips)
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