Doré, semi-refined and good delivery gold, moved under documented custody.
Gold remains the deepest and most liquid of the precious metals, and the most exacting in its documentation. Burlcore Trading handles physical gold across the chain: mine-gate doré, semi-refined bar, and refinery-issued good delivery product. Each consignment is assayed, sealed, insured and settled against a published reference, so that intake at destination is procedural rather than negotiated.
Forms and specifications
We work with doré bars from licensed producers, typically between 60 and 90 per cent fineness, semi-refined product above 99.5 per cent, and refinery-issued bars carrying accepted good delivery marks. Bar weight, fineness stamp, serial marking and packaging are matched to the intake requirements of the receiving refinery or vault before despatch.
Assay and valuation
Valuation follows an independent assay. Fire assay remains the reference method for doré, with ICP-OES or XRF applied where speed or non-destructive testing is required. Sampling is witnessed, retained samples are sealed, and umpire arrangements are agreed contractually before a consignment moves, which removes the most common source of post-delivery dispute.
Pricing and settlement
Gold is priced against the LBMA morning or afternoon benchmark, or an agreed intraday reference, with the pricing window fixed in the contract rather than chosen after the fact. Settlement is arranged through documentary letters of credit, escrow, or bank transfer against verified delivery documents, in the currency the counterparty treasury prefers.
Provenance and compliance
Every gold corridor is opened only after mine licences, export permits and counterparty ownership are verified. Chain-of-custody records travel with the metal from mine gate to vault, aligned to OECD Due Diligence Guidance and LBMA responsible sourcing expectations, and are made available to the buyer's compliance function on request.
At a glance
- Symbol
- Au, atomic number 79
- Typical forms
- Doré bar, semi-refined bar, good delivery bar of approximately 400 troy ounces
- Reference price
- LBMA Gold Price, morning and afternoon benchmarks in USD
- Assay methods
- Fire assay as reference, ICP-OES and XRF for supporting analysis
Common questions
What is the difference between doré and good delivery gold?+
Doré is the semi-pure alloy poured at or near the mine, usually well below refinery purity. Good delivery bars are refinery-issued, carry an accredited refiner mark and serial number, and meet the weight and fineness tolerances accepted by the London market. Doré requires refining before it can enter that market.
How is provenance evidenced?+
Through a documented chain of custody: mine licence and export permit, origin declaration, sealed sampling records, assay certificates, insured transit documentation and vault intake receipts. The set travels with the consignment and is retained for audit.
Which pricing benchmark applies?+
Contracts reference the LBMA Gold Price or an agreed intraday quotation, with the pricing window, currency and any quality differential fixed before the metal moves.
Related reading
How upstream relationships are verified before a corridor opens.
ReadInsured armoured transit, certified assay and allocated storage.
ReadLetters of credit, escrow and multi-currency settlement practice.
ReadThe nine-stage path a consignment follows from mandate to settlement.
ReadSpeak to the gold desk
For refineries, treasuries and institutional buyers. All enquiries are treated as strictly confidential.