August 19 – The China Gold Association issued a stern official statement, condemning the United States’ bullying practice of adding certain gold enterprises to its Entity List.
The association pointed out that such unilateral moves by US authorities violate relevant rules, disrupt the order of the global gold market and infringe on the legitimate rights and interests of the affected gold firms.
In its statement, the industry body rejected the grounds used for the listings, arguing the restrictive measures rely on unsubstantiated accusations and represent politicised trade protectionism. It warned that the actions threaten the stability of the global gold industrial chain.
The statement also touched on the follow-up actions by the London Bullion Market Association (LBMA), which suspended the good delivery status of the targeted gold producers. The association noted that LBMA’s decision, made without thorough fact verification, also harms the fair operation of the international bullion trading system.
The China Gold Association stressed that the regional gold sector boasts a complete industrial chain and strong resilience against external risks. It will coordinate industry-wide efforts for legal advocacy, strengthen traceability and compliance systems, and push for constructive dialogue with global industry counterparts to pursue impartial treatment.
The association voiced support for all necessary countermeasures by relevant authorities. It urged Washington to cease suppressing enterprises based on false claims, and called on LBMA to uphold neutrality and rectify its improper ruling, so as to foster an equitable global precious metals market.