GoldBod gold pricing regime will change from July 1, 2026, after the Ghana Gold Board announced a new framework designed to improve transparency, fairness and stability in the country’s gold trading market.
The revised regime, announced on Tuesday, June 23, follows consultations with licensed gold buyers, aggregators, self-financed aggregators and other actors in Ghana’s gold trading value chain.
GoldBod said the changes are intended to strengthen market integrity and align local trading practices with internationally recognised pricing standards.
A central feature of the new policy is the discontinuation of continuously updated live gold prices. In its place, GoldBod will use the London Bullion Market Association benchmarks, adopting the LBMA Gold Price AM and the LBMA Gold Price PM as the sole reference points for determining official local gold purchase prices.
Two official prices daily, tied to BoG reference rate
Under the system, GoldBod will publish two official gold purchase prices each trading day, creating defined pricing windows for market activity.
The first price will be released at 10:30 a.m., based on the LBMA Gold Price AM. The second will be published at 3:00 p.m., reflecting the LBMA Gold Price PM.
GoldBod said the 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.
The board said the published figures will serve as “the mandatory official purchase prices” for all licensed operators buying gold from licensed miners and traders during the applicable window.
By introducing fixed, benchmark-based reference points, GoldBod expects to improve consistency in pricing across the market and reduce disputes linked to intra-day price changes, while also supporting clearer documentation and accountability in transactions.
Compliance made mandatory under Act 1140, enforcement teams deployed
GoldBod warned that the official prices published under the new regime must be followed strictly and that licensed operators “may not purchase gold” outside the approved framework. The prices will be published daily on the GoldBod website to improve accessibility and transparency for traders and miners.
The board reminded licence holders that compliance with official pricing directives issued under the Ghana Gold Board Act, 2025 (Act 1140) is mandatory.
It said any person or entity that purchases gold in contravention of the pricing regime would be deemed to have committed an offence and could face sanctions.
To back the directive with monitoring, GoldBod said enforcement and compliance teams will be deployed across major gold-producing and trading centres to track adherence to the new pricing system.
It said penalties for offenders may include suspension or revocation of licences, seizure of unlawfully traded gold, prosecution and other administrative, civil or criminal sanctions allowed under the law.
GoldBod described the pricing reform as part of a broader effort to formalise the gold trading sector, promote responsible sourcing and build a “fair, efficient, and globally competitive” ecosystem, urging licensed operators to familiarise themselves with the rules ahead of the July 1 rollout.
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