Page 38 - Bollion World Volume 4 Issue 8 August 2024
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Bullion World | Volume 4 | Issue 8 | August 2024

           “Refining Today,


           Defining Tomorrow.”




           Gold Recycle & Refining Dept., Sovereign Metals Limited



           “We find people rarely, whom the glamour of gold   Per se; along with exciting opportunities, there comes
           fascinates barely.”                                several challenges as outlined below to encounter with.
           Gold being the symbol of wealth and prosperity, always   Capital & Resource Intensive
           stands as cream & smart investment in anyone’s     The refining set up requires substantial upfront funding
           portfolio. Though digital gold investment is in trend, it   for high-tech machineries, specialized equipment,
           cannot significantly narrow the demand and fondness   qualified personnel & security measures. Also the rapid
           towards buying physical gold in form of coins, jewelry/  innovations in technology and up-gradation in processes,
           ornaments.                                         entails sizeable ongoing outlays.

           The massive market of scrap & old gold jewelry offers   Regulatory Framewok & Ethical Sourcing
           promising opportunities for gold recycling and refining   The gold industry is stiffly regulated to combat money
           units to establish scrap gold collection centers to   laundering and prevent unlawful gold which enters the
           scoop up old broken gold and turn it into high quality   market through unorganized channels. In order to avoid
           gold bars. Furthermore, the government has become   any litigations and disputes, it is onerous to check the
           more involved in the refining industry. In few past years,   authenticity and legitimacy of such supplies. One has
           Bureau of Indian Standards (BIS) introduced Indian   to strongly comply with all the applicable regulations
           Good Delivery Standards (2020), a range of standards   and strictly adhere to ethical sourcing practices by
           for gold bars including purity, weight, markings and   implementing the proper KYC checks and keep accurate
           dimensions, enabling BIS-approved refiners to sell their   records of documents involved.
           bars that meet the requirements of commodity and stock
           exchanges.












































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