The Perth Mint's sales of gold products tumbled about 47.4% in May from a month earlier, while silver sales plunged 53%, the refiner said in a blog post on Monday.
Sales of gold coins and minted bars last month fell to 63,393 ounces from 120,504 in April, when they reached the highest level since at least March 2012.
However, sales jumped nearly six-fold from a year earlier due to a surge in demand for the safe-haven metal, which has lifted prices about 11% so far this year.
Sales of silver coins in May dropped to 997,171 ounces from 2,123,121 in the previous month, but were 46% higher than the same period last year.
Benchmark gold prices <XAU=> rose 2.7% in May after a 6.9% surge in April. Silver <XAG=> jumped nearly 19%, registering its best month since January 2012. [GOL/]
The Perth Mint, owned by the government of Western Australia, refines more than 90% of newly mined gold in Australia, one of the world's top gold producers.
(Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu)
