Bifalgorithm post · Gold market analyst · Due Diligence Processes as Sponsor for GLD and GLDM

Guidance

Guidance (Gold market analyst · Due Diligence Processes as Sponsor for GLD and GLDM) — "In order to be included on the LBMA Good Delivery List, the refiner mus…

Ideas in this flowchart

  • LBMA requirements and internal controls are intended to address modern slavery risk in gold sourcing.
  • Inclusion on the LBMA Good Delivery List requires the refiner to follow the LBMA Responsible Gold Guidance.
  • The Guidance is mandatory and subject to audit.
  • Refiners must collect and maintain documentation on sources of Mined Gold, Recycled Gold, and other feedstock.
  • The documentation helps ensure that the supply chain has not financed conflict, human rights abuse, money laundering, or terrorism.
  • The definition of human rights abuse mirrors the International Bill of Human Rights and includes slavery.
  • All gold is sourced from refiners on the LBMA Good Delivery List when the gold was produced.
  • The bar lists and controls for gold held by GLD and GLDM are regularly reviewed.
  • The combined measures are believed to sufficiently address the risk of modern slavery.
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Guidance

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Gold market analyst

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"In order to be included on the LBMA Good Delivery List, the refiner must follow the LBMA Responsible Gold Guidance (\"the Guidance\"), which is mandatory and subject to audit. The Guidance specifically states that refiners ‘collect and maintain documentation regarding the sources of Mined Gold, Recycled Gold, or any other feedstock, in order to ensure that they have not financed conflict, have not participated in abuse of human rights or money laundering, nor financed terrorism at any point in the supply chain’. The definition of abuse of human rights mirrors that of The International Bill of Human Rights, which includes slavery.\n\nIn addition to ensuring that all gold is sourced from refiners on the LBMA Good Delivery List at the time that the gold was produced, we regularly review the bar lists and controls around the gold held by GLD and GLDM. As a result of these steps, we believe that the risk of modern slavery is sufficiently addressed."

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