The London Bullion Market Association (LBMA) has announced that the majority of its accredited gold refineries are now providing data to a digital platform to increase transparency in the precious metals trade.
The association's Gold Bar Integrity Database holds data submitted by refiners, and 85% of them are “on board” now, Reuters quoted LBMA CEO Ruth Crowell as saying.
"I would say higher gold prices attract all investors, including the nefarious. Therefore, it's more important than ever to be embracing LBMA standards when it comes to responsible sourcing," she added.
LBMA’s Good Delivery list of responsible sourcing now includes 66 gold refiners and 83 silver refiners worldwide. It aims to have all its approved refiners using the integrity database before the end of this year.
Theodor Lisovoy, Managing Editor, Rough&Polished
