Gold Dore vs Bullion: What Buyers Should Know
Gold dore and refined bullion are different forms of gold used at different stages of the supply chain. Understanding the difference helps international buyers evaluate specifications, assay evidence, refining requirements, documentation and transaction arrangements.
What Is Gold Dore?
Gold dore is a semi-refined material produced after gold-bearing ore has been processed. A dore bar can contain gold together with silver and other metals, so its stated purity must be supported by appropriate assay documentation and buyer verification.
What Is Gold Bullion?
Gold bullion generally refers to refined gold in a recognized bar or ingot form with a stated fineness and weight. Buyers should independently confirm the bar’s identity, weight, fineness, assay evidence, ownership and chain of custody before completing a transaction.
Key Differences for Buyers
- Purity: dore can have materially lower and variable gold content; refined bullion is produced to a specified fineness.
- Refining: dore normally requires further refining before use as investment-grade bullion.
- Documentation: both require appropriate provenance, ownership, assay and transaction documentation.
- Valuation: buyers should calculate value using verified weight, fineness, payable metal terms, refining costs and applicable charges.
How Buyers Can Verify a Gold Shipment
Start with gold verification and due diligence, review the available assay and ownership records, and understand the proposed international logistics process. Buyers can also review our guide to buying African gold before proceeding.
Work With a Structured Sourcing Process
The Miners League connects African mineral producers with international buyers through structured sourcing, verification, documentation and market access. Contact our team to discuss a specific gold requirement and the documentation available for review.