Gold Bar Integrity

The GBI Database addresses longstanding challenges, replacing manual email submissions with a secure and standardised platform. Custodians will initially upload aggregated vault holdings data monthly, transitioning over time to bar-level data submissions, beginning with historical Russian stock. For Refiners, the focus will start with annual uploads of key Responsible Sourcing Assurance Deliverables, including Country of Origin data. Over time, we aim to increase the frequency of these submissions, progressing towards quarterly and eventually monthly updates. These enhancements will pave the way for more granular and timely reporting, ultimately enabling robust chain-of-custody tracking across the supply chain.

While the database launch represents a significant milestone, its long-term success depends on careful implementation and widespread adoption. LBMA is already working closely with Refiners and Custodians to ensure smooth onboarding and a seamless transition. Equally important is the development of strong governance frameworks and post-launch support structures to sustain momentum and adapt to evolving industry needs.

2025 will be a critical year as we shift focus to operationalising and embedding the database into daily workflows across the industry. Challenges remain - from updating data taxonomy to increasing user adoption -but the rewards are undeniable. With stronger accountability, enhanced transparency, and more efficient operations, the GBI Ecosystem will set a new standard for trust in the precious metals market.