Friday, January 3, 2014

Perth Mint Gold sales up 41% Silver up 33%

In what sort of world does a commodity's demand increase by 41%, but its price decline by 28%? Silly me, that's right a manipulated world.

From bloomberg.com

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Gold sales from Australia’s Perth Mint, which refines most of the bullion from the second-biggest producer, climbed 41 percent last year as bullion capped the worst annual loss in more than three decades.

Sales of gold coins and minted bars totaled 754,635 ounces in 2013 from 533,333 ounces a year earlier, according to data from the mint. Silver coin sales surged 33 percent to about 8.6 million ounces from 6.5 million ounces in 2012, it said.

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