(Reuters) - The Perth Mint's sales of gold products fell about 2.4 percent in May from a month earlier, the lowest in over a year, while silver sales rose about 21 percent, the mint said on Wednesday.
Sales of gold coins and minted bars fell to 14,800 ounces in May from 15,161 ounces in April, it said in a blog post on its website.
"Demand overall remains very weak, except in South Africa where demand has been very strong for Krugerrands (gold coins)...," said Cameron Alexander, an analyst with metals consultancy GFMS, owned by Thomson Reuters.
Gold sales were down about 50 percent compared with the same month last year.
Silver sales rose to 557,120 ounces in May, but registered an over 32 percent decline compared with the same time last year.
The Perth Mint refines more than 90 percent of the newly mined gold in Australia, the world's second-largest gold producer after China.
Spot gold prices <XAU=> fell about 1.3 percent in May.
(Reporting by Karen Rodrigues and Swati Verma in Bengaluru; Editing by Biju Dwarakanath)
