There have been recent news reports that fake gold bullion kilobars are circulating in the global gold trade. This is a highly troubling development and one which investors should be acutely aware of. The news reports state that kilobars have been mislabelled as coming from reputable refiners worldwide with proceeds from the sale of these kilobars aiding criminal organisations.
Quoting industry insiders, Reuters said up to 1,000 kilobars worth approximately USD 50 million had been identified over the past three years.
To our knowledge, none of the kilobars in the above figure feature The Perth Mint hallmark. However, we would advise buyers to exercise extreme caution by only ever purchasing bullion direct from The Perth Mint, official outlets including our authorised bullion distributors or trusted sources.
Perth Mint clients using any of our Depository Services, GoldPass® app and listed products PMGOLD and Perth Mint Physical Gold ETF (AAAU) can always have confidence that all metal backing their investments is produced at The Perth Mint Refinery.
The Perth Mint Refinery is the only facility in Australia with accreditations from all five of the world’s major gold exchanges.
To uphold the ethical guidelines and standards set by the OECD, Dubai Multi Commodities Centre (DMCC), and Responsible Business Alliance (RBA), we refine gold only from known mines. Our ongoing commitment in this area is recognised in the certification we hold under the London Bullion Market Association (LBMA) Responsible Gold Program.
Government guarantee makes us unique in the world of precious metals
Another unassailable reason to favour The Perth Mint is our exclusive government guarantee, which is explicitly stated in the Gold Corporation Act 1987.
This unique guarantee allows us to pass on to clients peace of mind and certainty, gained from the knowledge that a highly rated sovereign entity is fully underwriting all our offerings – from refinery services and precious metal stored on behalf of investors to the purity and weight of our bars and coins.
