A significant change of the nation’s gold pricing structure has been announced by the Ghana Gold Board (GoldBod).
As of July 1, 2026, all permitted gold buyers must buy gold at publicly published rates.
The measure is intended to improve market stability, increase transparency, and guarantee consistent pricing throughout Ghana’s gold trading industry.
The internationally recognised LBMA Gold Price AM and LBMA Gold Price PM benchmarks will be the only basis for establishing official local gold purchase prices, according to a statement released by GoldBod on Tuesday, June 23. GoldBod will no longer publish continuously updated live gold prices.
GoldBod will release two official gold buy prices every trading day under the new system.
The LBMA Gold Price AM will be used to release the first price at 10:30 a.m., and the LBMA Gold Price PM will be used to publish the second price at 3:00 p.m.
The Board emphasised that the relevant LBMA benchmark will continue to be converted using the Bank of Ghana Reference Rate for the day in order to determine the applicable Ghana cedi purchase price.
Additionally, GoldBod mandated that all licensed gold purchasers, aggregators, self-financed aggregators, and other licensed participants in the gold value chain use the published prices as their required purchase rates.
Under the new system, licensed buyers will not be able to buy gold at prices that differ from those that the Board has publicly publicised.
“All licensed buyers are required to strictly comply with the official GoldBod prices published under this regime and shall not purchase gold at any other prices other than the officially published GoldBod price.
“Any person or entity that purchases gold in contravention of the official GoldBod price, in violation of the prescribed pricing regime shall be deemed to have committed an offence under the Ghana Gold Board Act, 2025 (Act 1140) and shall be subject to the sanctions prescribed by law,” the statement said.
GoldBod states that licensees who violate the legislation may be subject to license suspension or revocation, the confiscation of gold that has been exchanged illegally, legal prosecution, and other administrative, civil, or criminal sanctions.
The Board revealed that compliance and enforcement teams will be stationed in gold-producing and trading hubs across the country to oversee compliance with the new price structure.
According to GoldBod, the changes are meant to encourage equity, ethical sourcing, and increased trust in Ghana’s gold trading ecosystem. They come after thorough stakeholder engagements.
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Source: newsthemegh.com