Gold supply
What is actually being bought and sold
Gold sourced from Kenya reaches an international buyer in a small number of recognisable forms, at fineness levels that determine both price and what has to happen to the metal next. This page sets out those forms, what fineness means commercially, how a lot is priced against a published benchmark, and what we need from you in order to quote.
Forms
| Form | What it is | What happens next |
|---|---|---|
| Doré | Semi-pure alloy from mining or initial processing, typically well below investment fineness | Refining by an accredited refiner; value follows refinery outturn |
| Cast or poured bars | Locally produced bars of varying fineness | Assay, then refining unless already produced by an accredited refiner |
| Refined bars | Bars produced by a refiner to a stated fineness, with the refiner's marks and serial | Acceptance depends on the refiner's accreditation, not on the bar's appearance |
| Granules and grain | Refined metal in granular form, common in manufacturing feedstock | Direct to fabrication where fineness and accreditation are satisfied |
Fineness and what it costs
Fineness is gold content in parts per thousand: 995.0 means 99.5 per cent gold. It is the number that converts gross weight into fine weight, and fine weight is what is being paid for. The distance between a lot's fineness and the fineness the destination requires is a cost — refining, losses, time and financing — and that cost appears in the differential.
| Fineness | Karat equivalent | Typical context |
|---|---|---|
| 999.9 | 24K | Investment-grade refined metal |
| 995.0 | — | Minimum fineness in the London Good Delivery specification for large bars |
| 916.0 | 22K | Common jewellery standard in South Asian and Middle Eastern markets |
| 750.0 | 18K | Common European jewellery standard |
| Variable | — | Doré and locally cast material, established by assay on each lot |
How a lot is priced
- The reference: which published benchmark and which fixing.
- The pricing date: the day, or averaging period, on which the reference is taken.
- The differential: the discount or premium reflecting form, fineness, refining, freight, insurance, financing and risk.
- The quantity basis: fine metal content, not gross weight.
Because those four components are stated, a quotation from us can be checked against the market on the day. That is the intention. A number quoted without its formula cannot be checked, which is why we do not give one.
What we need in order to quote
- The form and fineness you require, and whether the material must arrive already refined by an accredited refiner.
- Indicative quantity, and whether this is a single lot or a repeating requirement.
- Destination market, intended consignee and importer of record.
- Your preferred settlement basis: origin assay or destination outturn.
- Preferred delivery terms, and whether your own freight forwarder is taking control at origin.
- Any acceptance constraints your refiner applies to material of this origin.
Verify: Availability, current lot sizes and the specific forms Aptus Group can offer at any given time must be confirmed by the trade desk. This page describes the market and our quoting basis; it is not an offer to sell and does not represent held inventory.
Questions
On supply and pricing
Do you quote a fixed price per kilogram?
Why is a below-benchmark offer a warning rather than an opportunity?
Can you supply Good Delivery bars?
What is the minimum lot?
Verify: Confirm indicative differentials and current availability with the trade desk before relying on any figure.
Next step
Looking to source gold from Kenya?
Tell us what you are looking for — form, quantity, purity and destination market — and our trade desk will tell you plainly whether we can serve it, and on what terms.
Monday to Friday, 08:00–17:00 East Africa Time (UTC+3)