Reuters: London gold body creates database of Russian bullion bars. “The London Bullion Market Association (LBMA) is creating a database of Russian gold bars held by banks in London to help prevent sanctions evasion by Russian companies or the Russian central bank, the industry group said.”
Reuters: Bullion Groups Launch Gold Bar Database to Thwart Fraud. “Two gold industry associations are working with miners, refiners, traders and shippers to create a database of gold bars in an effort to prevent trade in counterfeit metal and allow buyers of bullion to trace its origin, they said on Monday. The scheme aims to exclude gold linked to violence and crime from the mainstream market.”
New York Times: In London, the Goldsmiths’ Company Gets Ready to Mark 700 Years. “The Worshipful Company of Goldsmiths, generally known as the Goldsmiths’ Company, is unusual among its 11 peers for still being directly linked to Britain’s goldsmithing industry… it is creating a digital archive of its 12,000-piece, centuries-old collection of silverware and jewelry as well as its extensive accumulation of design drawings and management and apprenticeship records.”
Monga Bay: What’s the cost of illegal mining in Brazil’s Amazon? A new tool calculates it. “Illegal gold mining caused an estimated $429 million (2.2 billion reais) in social and environmental damages on the Yanomami Indigenous Reserve in Brazil’s Roraima state last year, according to a new impacts calculator launched this week by the Federal Public Ministry in partnership with the Conservation Strategy Fund Brazil (CSF-Brazil), the nonprofit organization responsible for the creation of the tool.”
Bloomberg: India’s Hindu Temples Use ‘God’s Gold’ to Pay Pandemic Bills. “Hindu temples hold as much as 4,000 tons of the precious metal, according to the World Gold Council, a stockpile as big as Fort Knox’s and administered by trusts empowered by Indian law to act on behalf of the deity. The Travancore Devaswom Board, a prominent temple association in the southern state of Kerala, has for the first time decided to deposit some of its treasures with banks—which pay interest on gold deposits of varying terms—to raise funds and pay salaries, according to the board’s president, N. Vasu.”
Coin World: Josiah K. Lilly Jr. gold coin collection undergoing digitization. “In celebration of the 50th anniversary of the congressionally approved donation of the Josiah K. Lilly Jr. Collection to the National Numismatic Collection at the Smithsonian Institution, the 6,125 numismatic items that comprise the collection are being digitally imaged for online access.”
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