Gold,Silver sale by Perth Mint drops again in June
Analysts said the drop in sales shows that lower prices have failed to woo buyers in Australia this time around just like elsewhere as consumers expect a further drop.
Australia's largest mint, Perth Mint announced yet another slowdown in gold and silver sales in June.
The mint sold 49,460 ounces of gold in bars and coins during June compared with 92,781 ounces in May,116,755 ounces in April and 52,704 ounces in March.
Silver sales also dropped to 636,047 ounces in June from 674,480 in May.
Analysts said the drop in sales shows that lower prices have failed to woo buyers in Australia this time around just like elsewhere as consumers expect a further drop.
During the mid-April plunge, sales of coins and jewelry surged around the world,spurring a 13 percent rebound in prices in less than three weeks.
However, sales remained weak last month despite the bullion losing 23 percent in the three-month period after the mid-April plunge amid speculation that the Federal Reserve will curb its asset-buying program as the U.S. economy recovers.
The US Mint also reported lower sales figures in June. The U.S. Mint sold 57,000 ounces of American Eagle gold coins in June from 70,000 ounces in May and 209,500 ounces in April
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