The Ghana Gold Board (GoldBod) has announced new requirements for determining the purity of gold purchased from local sources, as part of measures to strengthen gold assaying, pricing and payment procedures in Ghana’s gold trading sector.
The new GoldBod assay regime will take effect on October 1, 2026, and will introduce changes to the way gold purity is assessed by GoldBod and its licensed gold buyers.
XRF Assay to Become the Main Gold Purity Test
Under the new directive, the Water Density method will only be used as an indicative assessment of gold purity in local gold purchases.
GoldBod stated that water density results will no longer serve as the definitive basis for determining gold purity, pricing or payment for gold purchased by the Ghana Gold Board or its licensed buyers.
Instead, X-Ray Fluorescence (XRF) assay will become the definitive method for determining gold purity.
The XRF assay result will therefore form the basis for calculating the applicable payment for gold dore purchased by GoldBod and its licensed gold buyers.
Gold Purchases When XRF Testing Is Not Available
GoldBod has also outlined procedures for situations where a licensed buyer cannot use XRF testing because of genuine operational or logistical challenges.
The water density method may also be used where both the buyer and seller voluntarily agree to the method.
However, in such cases, the gold dore will be purchased at a 0.7% purity discount based on the purity determined through the water density method.
GoldBod Sets XRF Purity Tolerance
The new directive also introduces a specific tolerance level for comparing successive XRF assay results for the same gold or transaction.
All licensed gold buyers are required to apply an appropriate purity deviation or splitting limit when comparing XRF assay reports.
GoldBod has set the permissible difference between two XRF reports at plus or minus 0.1%.
Where the difference between two XRF assay results exceeds the approved ±0.1% tolerance, the transaction will require additional verification before it can be completed or reported to GoldBod.
Gold Aggregators and Licensed Buyers Must Comply
GoldBod has reminded all gold aggregators and licensed gold buyers that strict compliance with the new assay requirements will begin on October 1, 2026.
The notice will form part of the terms and conditions attached to licences issued by the Ghana Gold Board to aggregators and licensed gold buyers.
Failure to comply with the new requirements will constitute a breach of applicable licence conditions and could result in regulatory or enforcement action under the Ghana Gold Board Act, 2025 (Act 1140).
GoldBod Urges Buyers to Prepare for New Assay Rules
GoldBod has directed all licensed gold buyers and aggregators to take the necessary steps to ensure they are fully prepared to implement the new gold purity testing requirements from October 1.
The changes are expected to strengthen the accuracy and consistency of gold assaying, gold pricing and payment determination in Ghana’s local gold purchasing market, with XRF technology becoming the primary benchmark for assessing gold purity.
Source: newsthemegh.com