May 05, 2022

Spotlight on Gold Recycling

Neil Harby, Chief Technical Officer, LBMA; Neil Meader, Director of Gold and Silver, Metals Focus.

In today’s webinar, Neil Harby (Chief Technical Officer, LBMA) and Neil Meader (Director of Gold and Silver, Metals Focus) explored the Spotlight on Gold Recycling report, published on Tuesday, 26 April 2022.

Our panelists focused on several highlights from the report but stressed the key takeaway was the importance of understanding the data. “You’ve got to be able to understand the data in order to understand the market,” said Neil Harby.

Neil Harby looked at the breakdown of Large-Scale Mining (LSM) in comparison to recycled gold, adding that LSM is fairly transparent, but recycled gold has a different set of requirements and considerations. He said: “45% of the throughputs of the LBMA Good Delivery List refiners are sourced from LSM, which means that 55% are not.”

This recycling does affect the gold price and correlating volumes, stated Neil Meader, who added that “even though prices exceeded where we were at the beginning of the decade, volumes are down. What motivates an investor could be very different to what motivates a jeweller.”

Watch the webinar now to find out more about the report, why it was commissioned, gold bullion imports in South-East Asia and more.