Welcome to issue 122 of the Alchemist.
Highlights from this issue:
In Gold We Trust?
By Gillian Tett (Provost, King's College, Cambridge)
Gillian Tett examines some of the factors influencing the modern global economy, drawing on anthropological and historical economic theories to explain the persistence of gold in the public consciousness despite innovations in the digital realm.
The Urban Origins of Gold
By Sean Millard (Chief Growth Officer, The Royal Mint)
Sean Millard explores how The Royal Mint and clean-tech company Excir have partnered to create an urban mining facility, reducing e-waste and recovering gold from circuit boards at room temperature.
No Safe Haven for Illicit Gold: Senior Government Official Calls for Collective Action
By The Rt Hon David Lammy MP (Former Deputy Prime Minister and Secretary of State for Justice)
The Rt Hon David Lammy MP, in a speech at LBMA’s Sustainability and Responsible Sourcing Summit 2026, reveals a surprising family connection to gold and calls for increased public-private partnerships and international cooperation to tackle illicit gold flows – highlighting the cross-sector importance of tackling this issue.
AGM Governance Updates: Strengthening Transparency and Trust
By Peter Zoellner (Chair, LBMA)
LBMA Chairman Peter Zoellner shares key governance updates aimed at strengthening independence and transparency in LBMA’s operations.
Also featured in this issue:
Facing Facts: India’s Organised Jewellery Sector: Strong Q2 Performance Amid Headwinds
In the latest Facing Facts article, Debajit Saha (London Stock Exchange Group) outlines the reported growth of revenue and profit in India’s organised jewellery market despite ongoing economic and geopolitical obstacles, demonstrating the market’s resilience in Q2.
Responsible Gold in a World of Flux: Trust, Resilience and the Next Era of Market Integrity
Nirali Shah (Sustainability & Responsible Sourcing Director, LBMA) explores the key messages and takeaways from the Sustainability and Responsible Sourcing Summit 2026, highlighting key themes of collaboration, convergence and trust, as well as encouraging responses to the consultation on Responsible Gold Guidance version 10 (RGG10).
New Member Spotlights
LBMA is pleased to welcome BFI Bullion AG, Holland Gold, and IKOI S.p.A. as Affiliate Members. For more information on these organisations, please see the Spotlight features in this issue.
LBMA would like to thank all of our advertisers: