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Responsible Sourcing Fact Sheet Fact Sheet Prospectus Prospectus Reports Reports

OUNZ holds London Bars. A London Bar is a gold bar meeting London Good Delivery Standards. Only gold bars that meet the standard may be delivered to OUNZ. The Good Delivery Standard includes a standard on responsible sourcing:

The London Bullion Market Association's ("LBMA") Responsible Sourcing program is a mandatory independent audit program that verifies the legitimacy of gold supply chains, ensuring sourcing meets international ethical standards: "The Responsible Sourcing Programme ensures the continuous improvement of Responsible Sourcing business practices and reassures clients that all of the metal sourced from LBMA Good Delivery Refiners is free from threat financing. The Programme follows the five-step due diligence framework set out in the OECD Guidance and requires [Good Delivery] refiners to demonstrate their efforts to combat money laundering, terrorist financing and human rights abuses, and respect the environment globally." For details, including their latest annual report, please see LBMA's Responsible Sourcing resources. In the context of OUNZ, please note:

  • Any new gold introduced to the LBMA must abide by the LBMA's Responsible Sourcing Program.
  • The LBMA Responsible Sourcing Program was introduced in 2012.
  • 100% of gold bars held by OUNZ were refined in 2012 or later.
  • Does that mean any gold refined before 2012 was not responsibly sourced? No; miners and refiners had been subject to their own set of rules and regulations. The Responsible Sourcing Program was introduced, in part, to provide streamlined standards. The Responsible Sourcing Program is a continuous improvement program, as lessons from the program are incorporated as the program evolves.
  • Does it mean all gold refined after 2012 is sourced responsibly? It means all gold introduced to the LBMA is subject to the LBMA Responsible Sourcing Program. Keep in mind that old London Bars are at times sent back to refineries; as such, a London Bar refined today may include gold that was first mined before 2012.
  • If you have any questions or concerns about the responsible sourcing of gold held by OUNZ, please contact us.
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For more information, please also read OUNZ's Guiding Principles and the OUNZ FAQs.


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