Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! - November's rally in gold and silver took a modest toll on physical demand; however, the Perth Mint continues to dominate the market as it saw solid bullion demand last month.
"Despite this, ounces of gold sold as minted products were at their second highest monthly level this financial year," he said in a statement. However, some analysts have said that low production could be related to some production issues as the mint has started making 2023 coins. "We see some customers buying gold bullion coins for tax reasons, but because of where premiums are, you are betting that gold is going over $2,100," he said.
While U.S. Mint gold sales fell to a three-year low, it reported solid silver demand. The U.S. Mint said it sold 1.4 million ounces of silver in November, its strongest month since March.