Australian Gold Exports Surge Boosted By German Demand

Jon Economy, Gold, Market Commentary, Precious Metals, Silver

Gold exports from Australia surged from August to September, according to data released by the Australian Bureau of Statistics (ABS).
Non-monetary gold exports rose 17% in the period, an increase of $217 million in seasonally adjusted terms.
Germans are buying a lot of gold from Australia through the Perth Mint, according to the Australian Financial Review.
Germans purchased gold and silver coins worth almost $487 million from the mint last financial year and the trade has boomed on the back of events such as Brexit and the global financial crisis. The 2016-17 sales represent more than 158 tons of gold and silver turned into more than 4 million commemorative and special edition coins by the mint.’

This post was published at Schiffgold on NOVEMBER 6, 2017.