Gold supply chain supply chain chokepoints

category tradeable chokepoint

How scores are shown

Criticality comes from the trace model and describes the node's dependency importance.

Evidence comes from the canonical Vein Graph: AI assertions, user corrections, and external sources.

Completeness is a data-coverage label based on available summary, evidence, sources, tickers, and chokepoint rationale.

Dynamic claims are capped below 100% and AI-only edges remain labeled as inferred. Model: trace-score-v1.

Large-scale mine production90% confidence — Permitting and grade decline limit new ounces despite record prices.

Power & diesel for haul fleets85% confidence — Fuel spikes raise AISC quickly.

Doré refining & LBMA bars90% confidence — Refinery slots tighten when scrap flows drop.

Artisanal mining oversight90% confidence — OECD due diligence can block untraceable doré.

Gold supply chainPrecious metals

Mine to bar through refining and vault logistics.

Criticality: unknownEvidence: UnverifiedCompleteness: thin

Large-scale mine productionMining⚠ chokepoint

Tier-1 deposits in Nevada, West Africa, and Australia.

Permitting and grade decline limit new ounces despite record prices.90% confidence

NEM—Newmontstock

ProducerSupplies into this nodeSupply-chain context only — not investment advice.

Criticality: highEvidence: UnverifiedCompleteness: partial

Power & diesel for haul fleetsOperations⚠ chokepoint

Open-pit fleets are diesel-intensive.

Fuel spikes raise AISC quickly.85% confidence

Criticality: highEvidence: UnverifiedCompleteness: partial

— core tradeable element

Doré refining & LBMA barsRefining⚠ chokepoint

Swiss and UAE refiners producing 400oz good-delivery bars.

Refinery slots tighten when scrap flows drop.90% confidence

Criticality: highEvidence: UnverifiedCompleteness: partial

— core tradeable element

Central bank & ETF demandDemand

Official sector buying and bullion ETF creations.

Criticality: unknownEvidence: UnverifiedCompleteness: thin

— core tradeable element

Artisanal mining oversightESG⚠ chokepoint

Traceability programs for ASM gold entering refineries.

OECD due diligence can block untraceable doré.90% confidence

Criticality: highEvidence: UnverifiedCompleteness: partial

— core tradeable element

Generated analysis — not investment advice.

Loading page…