Report Urges U.S. Mint to Improve Gold Source Tracking

A report from the inspector general urges the U.S. Mint to enhance its tracking of gold sources, despite finding the $500 million in annual gold purchases to be “responsibly sourced.” The Mint relies mainly on self-certification by suppliers under the London Bullion Market Association’s standards and lacks thorough documentation to ensure compliance with laws on newly mined U.S. gold. The Mint has agreed to periodically review supplier records and update its policies to meet responsible sourcing requirements.

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