WGCDP

WGCDP, or the World Gold Council's Good Delivery Practice, is an industry standard for the delivery of gold. It was established by the World Gold Council in 2008 to ensure the transparency and integrity of the gold supply chain. The WGCDP sets out a series of principles and guidelines that participants must adhere to, including the use of secure packaging, proper documentation, and the involvement of independent third-party auditors.

The WGCDP is designed to prevent the theft, loss, or misappropriation of gold, and to ensure that gold is delivered to the correct recipient. It applies to all participants in the gold supply chain, from miners and refiners to banks and jewelers. The standard is voluntary, but it is widely adopted by the industry.

The WGCDP includes several key elements. These include the use of tamper-evident packaging, the provision of a delivery note, and the involvement of an independent third-party auditor. The delivery note is a critical component of the WGCDP, as it provides a record of the delivery and includes details such as the quantity of gold, the purity, and the names of the sender and recipient.

The WGCDP is regularly reviewed and updated by the World Gold Council to ensure that it remains relevant and effective. It is an important tool for maintaining the integrity of the gold market and for building trust among market participants. The WGCDP is not a legal requirement, but it is widely recognized and respected by the industry.