Editor’s Note
As gold prices surge and ESG considerations gain prominence, the centuries-old gold industry faces a pivotal transformation. This article explores how one family’s legacy is adapting to meet modern demands for sustainability and transparency.
Amidst the continuous rise in gold prices and an increasing focus on Environmental, Social, and Governance (ESG) standards, a major shift is coming to the precious metals market. By early February 2026, gold prices had reached approximately $4,860 per ounce, with further increases expected due to geopolitical tensions. The Betts family, whose legacy in gold refining dates back to 1760, is now on a mission to reshape this industry. Specifically, Dan and Charlie Betts have launched a new initiative called S.M.O. Gold. This initiative is designed to bring transparency to every step, from the mines to the consumer, as traditional gold sourcing has long been plagued by opacity and ethical concerns.
Tracking the true origin of gold has always been difficult because it is melted down and mixed with other sources at refineries, obscuring its provenance. However, the Betts brothers have leveraged their family experience to devise a solution. Their S.M.O. Gold system involves strictly segregating every batch during the refining process. Each batch is assigned a unique serial number and QR code, allowing customers to trace the gold directly back to its mine of origin. This is all facilitated through third-party chain-of-custody audits, aiming to eliminate issues like illegal sourcing, mercury use, and human rights violations. The system prioritizes mines that meet stringent ESG benchmarks, such as carbon emissions per ounce of gold produced and local employment rates. The Betts brothers aim for S.M.O. Gold to supply 40 percent of the jewelry industry’s gold by 2030.
Currently, S.M.O. Gold is being sourced from major mines with high ESG standards. These include operations like Endeavour Mining’s Ity mine (Ivory Coast) and Sabodala-Massawa (Senegal). Meanwhile, Australia’s Bellevue Gold mine is recognized as the world’s first net-zero emissions gold mine. Endeavour Mining, with a market cap of approximately CAD 19.71 billion, produced 1.2 million ounces of gold in 2025 and targets 1.5 million ounces by 2030. Sabodala-Massawa implements several sustainable measures, including 62 percent water recycling, the development of a solar farm, and the protection of local chimpanzee habitats. A clinic has also been opened in a nearby village to assist the community. Bellevue Gold, with a market cap of around AUD 2.78 billion, is known for its high-grade project in Western Australia and its net-zero emissions target. The Canadian company Dynacor Gold Mines, with a market cap of approximately CAD 284.53 million, processes ore from small-scale miners in Peru under strict compliance standards and returns a portion of profits to local development projects.
This traceable gold is now rapidly gaining popularity among major jewelers. Brands like Boodles and Emefa Cole are adopting S.M.O. Gold because it assures their customers of the gold’s ethical origin and responsible sourcing. Industry bodies like the World Gold Council (WGC) also support the principle of traceable gold. They believe it plays a crucial role in responsible mining and social contribution.
Record investment-driven demand for gold was seen in 2025. The London Bullion Market Association (LBMA), while maintaining global standards for gold quality and advising against market confusion from new traceability systems, is also developing integrated industry standards. The Betts brothers have also launched a $1.25 billion exchange-traded commodity fund (ETC) called the S.M.O. Physical Gold E.T.C., aiming to make traceable gold an industry standard. This evolving landscape shows that traceability is no longer just an ethical imperative but a growing business strategy, driven by investor alignment with ESG principles and consumer demand for transparency.