US mint gold sales first half 2016 v 2017

US Mint Gold Sales Out of Step With Global Gold Demand

Economic News, Gold News

U.S. Mint gold sales slow to a crawl while Perth and Canadian Mints and Chinese and Indian and demand remain robust.

Retail sales of gold in 2016 in the first half of the year were one of the strongest over the last five years. The stock market took a nose dive in January 2016, and Brexit vote scheduled for June that year created much uncertainty in the financial markets. Retail gold demand surged in the first half of 2016 at the three large sovereign mints, the US. Perth and Canadian Mints.

The United States Mint is the largest of the three sovereign mints and its gold sales generally out sell the other two mints by a wide margin. In the first half of 2017, however, each of the Perth and Canadian Mints have out sold the U.S. Mint by a wide margin.

Chinese gold demand as measured by gold withdrawals on the Shanghai Gold Exchange was strong in 2016, while Indian gold imports were down about 60% in 2016 from 2015’s near record imports.

2017 opened the year with continued robust gold sales at each of the three largest mints. Shanghai gold demand withdrawals and Indian gold imports also opened 2017 strong. In February, however, the U.S. Mint posted lower year over year monthly sales of one ounce American Gold Eagle coins. From February to June 2017 U.S. Mint American Gold Eagle sales are down 83% as compared to February to June 2016 sales! (see chart below)

While the Perth and Canadian Mints have seen decline in gold sales the first half of 2017, with declines of 23% and 35%, respectively, such decreases in sales are readily explainable. Gold sales were very strong in the first half of 2016, so a decline from elevated sales can be expected. The U.S. Mint’s 83% decline however can not be so easily explained.

Here is an overview of gold sales and demand in the first half of 2017 compared to 2017.

Perth Mint Gold Sales

Perth Mint gold sales first half 2016 2017
Perth Mint gold sales were down 25% in the first half of 2017 vs the first half of 2016.

Buy Perth Mint Gold Coins at BGASC.com

Canadian Mint Gold Sales

Canadian Mint Q1 Q2 Gold sales 2016 v 2017
Canadian Mint gold sales were steady year over year in the first quarter of 2017 as compared to the first quarter of 2016. Sales of gold fell in the second quarter of 2017 vs the second quarter of 2016.

The Canadian Mint has shifted some of their focus away from gold bullion sales towards numismatic coins with varying designs. Sales of such coins increased 29% in the second quarter of 2017 vs the second quarter of 2016.

Buy Canadian Mint gold from BGASC.com

Shanghai Gold Exchange Withdrawals

Shanghai gold exchange first half 2016 - 2017
Shanghai Gold Exchange gold withdrawals were up 1% in the first half of 2017 vs the first half of 2016.

Buy Chinese Gold Pandas from BGASC.com

Indian Gold Imports

Indian Gold imports first half 2016 v 2017
Indian gold imports were up 25% during the first half of 2017 compared to the first half of 2016.

Buy Tola Gold Bars from BGASC.com

US. Mint Gold Sales

US mint gold sales first half 2016 v 2017
Sales of one ounce American Gold Eagle coins were down a staggering 83% during the first half of 2017 vs the first half of 2016.

Buy American Gold Eagle coins from BGASC.com

Today’s Gold Prices

Today’s Silver Prices

See Gold & Silver Price Charts

Receive Gold & Silver Price Alerts

This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.