DMCC recently announced that the Gem and Jewellery Council of India (GJEPC) supports the inclusion of imports of gold from Dubai Good Delivery Standard (DGD) compliant refiners into India. Simultaneously, Signet Jewelers Ltd. (Signet) confirmed that based on independent evaluation, the DGD standard is compliant with the Signet Responsible Sourcing Protocol (SRSP) for gold. Signet is the largest speciality retail jeweller in the USA and the UK.
These recognitions will allow manufacturers in India to accept gold from refineries on the DGD list, as well as re-assuring others in the supply chain that gold from DGD refineries is responsibly sourced. DGD refineries are all required to adhere to DMCC's Practical Sourcing Guidance and Review Protocols ('Guidance').
The DGD standard, launched by DMCC in 2005, is the adopted quality standard for gold and silver bars production and technical specification in the Middle East, and is benchmarked to international standards. It is also the only globally accepted and relevant standard for 1kg gold bars with a minimum 995 fineness, as well as the physical delivery standard at the Dubai Gold and Commodities Exchange (DGCX) for futures contracts traded.