World Gold Council – Central Bank Considerations When Pricing ASGM Purchases

This document outlines the considerations central banks should take into account when pricing purchases of gold from Artisanal and Small-Scale Gold Mining (ASGM) operations.

It covers the rationale behind central bank purchases, legal and infrastructural issues, price-setting mechanisms, accounting and inventory management, and challenges in recognizing ASGM gold as a reserve asset. The report includes case studies from various countries such as Ecuador, Madagascar, Mongolia, Philippines, and Zambia, providing practical insights into State Gold Buying Programs.