Tags: gold | price | bars | coins

Gold Sales at Perth Mint Drop as Price Falls for Third Month

Monday, 02 Dec 2013 06:48 AM

Gold sales from Australia’s Perth Mint, which refines most of the bullion from the world’s second-biggest producer, decreased in November from a month earlier as prices declined for a third month.

Sales of coins and minted bars fell 32 percent to 52,700 ounces last month from 77,255 in October, the mint said on its website today. Silver sales were 807,246 ounces last month from 821,580 ounces in October, according to the mint.

Bullion is heading for the first annual loss since 2000 amid speculation that the Federal Reserve will curb stimulus as the U.S. recovers and equities rally. Fed minutes signaled Nov. 20 that policymakers expected an improving economy to warrant trimming its $85 billion in debt purchases in coming months. Sales of gold coins by the U.S. Mint fell 1 percent last month.

Gold for immediate delivery declined 1.2 percent to $1,237.91 an ounce at 6:58 p.m. in Singapore. Prices dropped to $1,225.55 on Nov. 25, the lowest since July 8, and are down 26 percent this year.

November’s sales included 10,195 ounces of gold bars and 42,505 ounces of gold coins, according to data from the mint. Sales were about 15,458 ounces of gold bars and 33,547 ounces of gold coins in November 2012, according to the mint.

The U.S. Mint sold 48,000 ounces of American Eagle coins in November from 48,500 ounces in October, according to data on the mint’s website.

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Gold sales from Australia's Perth Mint, which refines most of the bullion from the world's second-biggest producer, decreased in November from a month earlier as prices declined for a third month.
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2013-48-02
Monday, 02 Dec 2013 06:48 AM
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