The Ghana Gold Board (GoldBod) will introduce a new official gold pricing regime from July 1, 2026, to enhance transparency, fairness and stability in the gold trade.
The regime will replace continuously updated live gold prices with fixed pricing windows based on internationally recognised benchmarks for local gold purchases.
A statement issued by GoldBod said the new system followed consultations with stakeholders, including licensed gold buyers, aggregators and self-financed aggregators.
Under the arrangement, the Board will adopt the London Bullion Market Association (LBMA) Gold Price AM and LBMA Gold Price PM as the sole benchmarks for determining official local gold purchase prices.
GoldBod said it would publish two official purchase prices each trading day, with the first released at 1030 hours based on the LBMA Gold Price AM and the second at 1500 hours based on the LBMA Gold Price PM.
The statement explained that the applicable Ghana cedi purchase price would continue to be calculated by converting the relevant LBMA gold price using the Bank of Ghana Reference Rate for the day.
It said the published GoldBod price would serve as the mandatory official purchase price for all licensed gold buyers, aggregators, self-financed aggregators and other licensed holders purchasing gold from licensed miners and traders during the applicable pricing period.
“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,” the statement said.
GoldBod said all official prices would be published on its website to ensure accessibility and transparency for market participants.
The Board reminded licensees that compliance with pricing directives issued under the Ghana Gold Board Act, 2025 (Act 1140), was mandatory and legally binding.
It warned that any individual or entity that purchased gold contrary to the official GoldBod price or violated the prescribed pricing regime would be deemed to have committed an offence under the law.
The statement said offenders would be subject to sanctions under the Ghana Gold Board Act and other applicable laws.
To ensure compliance, GoldBod said it would deploy enforcement and compliance teams across gold-producing and trading centres nationwide to monitor adherence to the pricing structure.
It said sanctions for violations could include the suspension or revocation of licences, seizure of unlawfully traded gold where applicable and prosecution before the appropriate courts.
The Board added that other administrative, civil or criminal sanctions available under the law could also be imposed on offenders.
GoldBod reaffirmed its commitment to promoting transparency, fairness, market stability and responsible sourcing within Ghana’s gold trading sector.
It urged all licensed buyers and operators in the gold trading value chain to familiarise themselves with the new pricing regime and ensure strict compliance from July 1, 2026.
