Perth Mint Gold and Silver Bullion Sales Surge

The Perth Mint of Australia has announced their latest sales figures for gold and silver sold as coins and minted products. During September 2012, sales for both metals surged to their highest levels since the start of monthly reporting. The higher sales were undoubtedly driven by the release of the new designs for popular series of gold and silver bullion coins.
Sales of silver coins and minted products rose to 1,251,580.06 troy ounces, up 269% from the prior month and more than doubling the previous highest reported monthly amount from March.
The sales for gold coins and minted products rose to 81,095.13 troy ounces, representing an increase of 118% from the prior month. This eclipsed the previous highest monthly reported amount from June.
Year ago comparisons are not available, since the Perth Mint only began reporting monthly sales levels in March of 2012.
2012 Perth Mint Bullion Sales in Troy Ounces

	Gold	Silver
March	35,957.28	590,636.15
April	17,575.64	207,109.91
May	30,387.88	437,759.34
June	44,619.05	523,663.46
July	34,026.23	452,692.79
August	37,196.86	338,945.22
Sept	81,095.13	1,251,580.06

The burst of sales can be attributed to the release of new 2013-dated gold and silver bullion coins on September 3, 2012. On that date, the 2013 Year of the Snake coins went on sale with gold bullion coins available in sizes ranging from 1/20 ounce to 1 kilo and silver bullion coins available in sizes ranging from 1/2 ounce to 1 kilo. For both metals, a 10 kilo sized coin will be available at a later date. Sales also began for the 2013 Australian Kookaburra silver bullion coins available in 1 kilo, 10 ounce, and 1 ounce sizes.

http://news.coinupdate.com/perth-mint-gold-and-silver-bullion-sales-surge-1646/

http://precious-metal-investment.blogspot.co.uk/

 

Three Scenarios For Gold

Three Scenarios For Gold

Even though we have presented comparable scenarios looking at the coverage of the US money base in gold terms previously, aka "gold coverage" ratio, including once from Dylan Grice, and once from David Rosenberg, now that we have drifted into a new, previously unchartered and very much open-ended liquidity tsunami, it is time to revisit the topic. Luckily, Guggenheim's Scott Minerd has done just that. Not only that, but he presents three distinct gold pricing scenario, attempting to forecast a low, medium and high price range for the yellow metal.
To wit: "The U.S. gold coverage ratio, which measures the amount of gold on deposit at the Federal Reserve against the total money supply, is currently at an all-time low of 17%. This ratio tends to move dramatically and falls during periods of disinflation or relative price stability. The historical average for the gold coverage ratio is roughly 40%, meaning that the current price of gold would have to more than double to reach the average. The gold coverage ratio has risen above 100% twice during the twentieth century. Were this to happen today, the value of an ounce of gold would exceed $12,000.”

Keep in mind, the $12,000 price is based on the current monetary base. When this number rises by $2 trillion (at least) through the end of 2014, the upside case of gold will be orders of magnitude higher.
And now you know why bickering over a few hundred dollars here and there is largely irrelevant, and in fact one should be delighted if gold can be purchased at as low a price as possible. Why? Because one thing is absolutely certain: in order to keep the ponzi going, with every other sector at peak leverage, including household, corporate and financial, and real assets already massively encumbered by debt, the only real indirect buyer of gold will be the world's central banks, by means of diluting the existing paper supply. And whether or not the New York Fed, or some gold cartel, are actively pushing the price of gold lower, this is very much irrelevant, and in fact continues to be a welcome diversion, one which allows for the artificially low entry prices into gold. Because one day, gold will revert to its fair value, and so often happen, that is when its will go back to 100% "coverage" as faith in fiat evaporates. At that point whether one bought gold at $1000, $1500 or even $2200 will be absolutely irrelevant.

 http://www.zerohedge.com/news/2012-10-17/three-scenarios-gold