Gold Deliveries Surge in January Despite Seasonal Slowdown.

Gold deliveries in January 2025 reached 3.1 tonnes, marking a 29% increase from the 2.4 tonnes recorded in the same month last year. The rise comes despite January traditionally being a slow month for mining due to wet weather conditions.

Data from Fidelity Gold Refinery shows that small-scale miners contributed the bulk of the deliveries, supplying 2,265kg, while large-scale producers delivered 868.7kg. In contrast, January 2024 saw primary producers delivering 1,108kg, with artisanal and small-scale miners contributing 1,333kg.

The positive start to the year follows strong performance in late 2024, with October deliveries reaching 4,168kg—up 22% from September and 12.6% higher than October 2023. Small-scale miners accounted for 3,143kg, while large producers delivered 1,024kg.