May 20, 2021

Global Initiative And Illicit Gold Markets

Alan Martin, Head of Responsible Sourcing, LBMA; Marcena Hunter, Senior Analyst, Global Initiative Against Transnational Organized Crime.

Marcena outlined the key findings of the report, which includes the resiliency of illicit markets as seen through pricing, illustrating how illicit markets adapt to interference – and outlining how this can influence policy.

“After the drop of gold prices earlier in the year, the price of illicit gold had certainly recovered by May — and by July prices were trading at or near LBMA prices,” explained Marcena. “This illustrates that illicit markets are really strong and very adaptable to interference, including that by government actors and institutions. We really need to understand how these supply chains operate.”

Watch the full webinar to find out more about the report’s findings, the distinctions made between ‘informal’ and ‘illicit’ gold in the report, the unintended consequences of legislature on this market, and the drive for ASM to be better recognised. Alan and Marcena also discuss what the prices paid in East and Southern Africa tell us about illicit markets, and concerns over recycled material.

Marcena’s report is available at here.