You are here
Top gold refiner exits Swiss industry group amid sourcing dispute
By Eddie Spence
Bloomberg News
Friday, October 27, 2023
Valcambi SA has resigned from the Swiss gold refining association after a disagreement over where it sources its gold.
Ticino-based Valcambi left the Swiss Association of Precious Metal Manufacturers and Traders, which coordinates communication and lobbying on behalf of the industry and requires members to sign a code of conduct, due to "irreconcilable differences," the association said in a statement.
... Dispatch continues below ...
... ADVERTISEMENT ...
Tara Coins offers silver and gold bullion coins from Ireland
Silver and Gold Trees of Life are 99.99% pure and available for the first time at competitive prices from authorized distributors globally.
Tara Gold and Silver Ltd., trading as Tara Coins, is a new designer and wholesaler from Ireland, providing beautiful, collectible, store-of-value, 99.99% pure Irish silver and gold bullion: the Silver Trees of Life (1 ounce) and the Gold Trees of Life (0.1 ounce).
Irish and Celtic gold and silver bullion coins and rounds have never been done in a truly professional manner and in large volumes. The Silver and Gold Trees (non-legal tender) are being designed in Ireland in collaboration with artists who specialize in designing coins and are being minted by a respected LBMA-accredited mint.
The Silver and Gold Trees are beautiful and limited in mintage and supply, making them highly sought-after as gifts, collectible coins, and stores of value.
For more information about Silver and Gold Trees of LIfe coins, please visit:
https://www.taracoins.com/
To obtain Silver and Gold Trees of Life coins at competitive prices from authorized distributors around the world, please visit:
https://www.taracoins.com/
Valcambi confirmed its departure in a statement today, which indicated the disagreement related to the origin of its gold supplies. Sourcing and supply chains have become a key focus in the gold market, given the difficulty in determining the origin of metal that often exists outside the banking sector and can be remelted countless times.
The world's top precious metals refinery has faced scrutiny in recent years from local media and non-governmental organizations for sourcing gold from the United Arab Emirates, where opaque supply chains can make it difficult to determine whether the metal has been responsibly sourced. Other large Swiss refineries have stated policies against purchasing gold from the UAE.
"Valcambi doesn't agree on the position of some members of the ASFCMP's board to exclude certain countries of origin," the company said in the statement. "Pretending gold from dubious origin will not enter in the Swiss market by excluding direct supplies from specific countries is not the correct approach." ...
... For the remainder of the report:
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 1-4, 2023
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at: bagman1236@aol.com
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
