DUBAI GOOD DELIVERY(DGD)GOLD
Until about 10 years ago, the Gold Souk was the primary justification for Dubai’s nickname 'City of Gold'. Today, it earns the title because approximately 1,200 tonnes of gold trades through Dubai, one-quarter of the global gold demand.
This global journey for Dubai began when DMCC was established to enhance commodity trade flows through the Emirate. Examples of innovation since then include the Dubai Gold and Commodities Exchange (DGCX), DMCC Tradeflow, a trade finance product; regional gold options trading; a Shariah-compliant hedge fund product; and the Dubai Good Delivery Standard, the only international standard for 1kg gold bars of .995 purity. DMCC serves the entire gold value chain, from trading to refining to investing. About DGD
The DGD standard is an international benchmark for quality and technical specification in the production of gold and silver for the DGCX. The objective of the standard is to increase confidence in the industry, create opportunities for trade finance activities and to provide the technical robustness in line with globally accepted best practices. The DGD standard for the DGCX prescribes 1kg gold bars of 99.5% purity and standard silver bars ranging from 900-110 ounces at a minimum 99.9% purity. Our standard further complies with both DMCC’s Practical Guidance for Responsible Sourcing and the Signet Responsible Sourcing Protocol in the US.
Dubai Good Delivery (DGD)
The DGD standard was developed by DMCC in 2005 and is regarded as the international benchmark for quality and technical specification for the production of gold and silver.
Market Deliverable Brand (MDB)
MDB is an accreditation initiative that certifies gold and silver refineries (with a minimum of one year of operations) for their quality and technical production of gold and/or silver. For gold refineries, the certification also includes responsible sourcing of gold in accordance with the ‘DMCC Guidance’ and ‘Review Protocol’. Membership is renewable annually.
Responsible Market Participant (RMP)
RMP is an accreditation initiative that certifies gold market participants (such as traders, jewellers and manufacturers with a minimum of one year of operations) for responsible sourcing of gold in accordance with the ‘DMCC Guidance’ and ‘Review Protocol’. Membership is renewable on an annual basis.
Purpose and benefits of the Accreditation Initiatives
Globally accepted industry benchmark and reference point for global market participants to ensure their supply chain is free from conflict gold
Creates a common understanding of the assessment process and determines the level of conformity with the DMCC guidance Provides assurance on the adequacy of the due diligence procedures conforming to the DMCC guidance