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Perth Mint's August silver sales jump about 19%, gold sales inch higher

Sept 2 (Reuters) - The Perth Mint's silver sales soared 18.7% in August from a month earlier, the refiner said on Monday, while gold product sales inched higher. Silver coin sales surged to 1,171,233 ounces, the highest monthly sales since June 2017. "Silver coin demand in the U.S. has been very strong this year ... it would not be surprising if the strength of this market is not partially responsible for the impressive (sales) numbers from the Perth Mint," said Cameron Alexander, director of precious metals research with the GFMS team at Refinitiv. Meanwhile, sales of gold coins and minted bars in August climbed 1.2% to 21,766 ounces, the mint said in a blog post. In August, benchmark spot gold prices jumped 7.5% on a protracted U.S.-China trade war, fears of a global recession and expectations for an interest cut by the U.S. central bank. The bullion has gained nearly 19% so far this year. The Perth Mint refines more than 90% of newly mined gold in Australia, the world's second-largest gold producer after China.

Period Gold (oz) Silver (oz)

(year-month)

2019-August 21,766 1,171,2332019-July 21,518 987,0402019-June 19,449 344,4742019-May 10,790 681,5822019-April 19,991 906,2192019-March 32,757 935,8192019-Feb 19,524 584,3102019-Jan 31,189 828,8542018-Dec 29,186 692,9712018-Nov 64,308 876,4462018-Oct 36,840 1,079,6842018-Sept 62,552 1,305,6002018-August 38,904 520,2452018-July 29,921 486,8212018-June 16,847 229,2802018-May 14,800 557,1202018-April 15,161 458,6552018-March 29,883 975,9212018-Feb 26,473 992,9542018-Jan 37,174 1,067,3612017-Dec 27,009 874,4372017-Nov 23,901 544,4362017-Oct 44,618 999,4252017-Sept 46,415 697,8492017-Aug 23,130 392,0912017-July 23,675 1,167,9632017-June 19,259 1,215,0712017-May 29,679 826,6562017-April 10,490 468,9772017-March 22,232 716,2832017-Feb 25,257 502,3532017-Jan 72,745 1,230,8672016-Dec 63,420 430,0092016-Nov 54,747 984,6222016-Oct 79,048 1,084,2132016-Sept 58,811 1,031,8582016-Aug 14,684 376,4612016-July 16,870 693,4472016-June 31,368 1,220,8172016-May 21,035 974,8652016-April 47,542 1,161,7662016-March 47,948 1,756,2382016-Feb 37,063 1,049,0622016-Jan 47,759 1,473,408

(Reporting by Asha Sistla in Bengaluru; Editing by Subhranshu Sahu)