The Ghana Gold Board (GoldBod) has announced a major overhaul of the country’s gold pricing system, introducing a new regime that will require all licensed gold buyers to purchase gold at officially published rates from July 1, 2026.
The move is aimed at strengthening transparency, promoting market stability, and ensuring uniform pricing across Ghana’s gold trading sector.
In a statement issued on Tuesday, June 23, GoldBod said it will discontinue the publication of continuously updated live gold prices and instead adopt the internationally recognised LBMA Gold Price AM and LBMA Gold Price PM benchmarks as the sole basis for determining official local gold purchase prices.
Under the new framework, GoldBod will publish two official gold purchase prices each trading day. The first price will be released at 10:30 a.m. based on the LBMA Gold Price AM, while the second will be published at 3:00 p.m. using the LBMA Gold Price PM.
The Board explained that the applicable Ghana cedi purchase price will continue to be calculated by converting the relevant LBMA benchmark using the Bank of Ghana Reference Rate for the day.
GoldBod further directed that the published prices will serve as the mandatory purchase rates for all licensed gold buyers, aggregators, self-financed aggregators and other licensed participants in the gold value chain.
As part of the new regime, licensed buyers will not be permitted to purchase gold at prices different from those officially published by the Board.
“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.
According to GoldBod, offending licensees may face suspension or revocation of their licences, seizure of unlawfully traded gold, prosecution before the courts, and other administrative, civil or criminal penalties prescribed by law.
To enforce the policy, the Board disclosed that compliance and enforcement teams will be deployed across gold-producing and trading centres nationwide to monitor adherence to the new pricing framework.
GoldBod said the reforms follow extensive stakeholder consultations and are intended to promote fairness, responsible sourcing and greater confidence in Ghana’s gold trading ecosystem.
