LBMA says less than half of gold going to refiners comes from mines


photograph of gold pour“Less than half the gold processed by major refiners in 2018 came from large industrial mines, the London Bullion Market Association said on Tuesday, publishing data revealing for the first time the origin of bullion moving through its system.”

USAGOLD note:  More than half came from recycled gold – jewelry, bars and coins. Of course, not all the gold changing hands in the marketplace runs through refiners.

Repost from 9-24-2020

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