Gold Rush: ASM Boosts Deliveries by 37% as Large-Scale Producers Decline

Gold deliveries to Fidelity Gold Refinery (FGR) saw a notable increase in May 2024. Artisanal and Small-scale Miners (ASM) boosted their deliveries by over 37%, reaching approximately 1,678 kgs, up from 1,218 kgs in April. However, large-scale producers’ contributions fell by nearly 37% to about 1,056 kgs, down from 1,669 kgs in April.

ASM accounted for around 61.4% of total gold deliveries, recovering from a dip in February and March. Overall, gold deliveries rose by about 14.5% in May to 2,734 kgs, compared to 2,387 kgs in April. April also saw a 31.4% increase from March, driven by ASM contributions.