The Ghana Gold Board (GoldBod) has announced a new official gold pricing regime that will take effect from July 1, 2026.
The new framework follows extensive consultations with stakeholders in the gold trading value chain.
According to GoldBod, the changes will affect licensed gold buyers, aggregators, self-financed aggregators and other licence holders.
GoldBod adopts LBMA benchmark prices
Under the new regime, GoldBod will stop publishing continuously updated live gold prices.
Instead, it will use the internationally recognised London Bullion Market Association (LBMA) Gold Price AM and LBMA Gold Price PM as the only benchmarks for determining official local gold purchase prices.
As part of the new arrangement, 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 AM price. The second will be published at 3:00 p.m. using the LBMA PM price.
Meanwhile, the Ghana cedi purchase price will continue to be calculated by converting the relevant LBMA price with the Bank of Ghana Reference Rate for the day.
Official prices become mandatory
GoldBod said the published prices will become the mandatory purchase prices for all licensed buyers, aggregators and other operators in the sector.
Therefore, licensed entities must purchase gold from licensed miners and traders only at the official GoldBod prices applicable during each pricing window.
In addition, all prices will be published on GoldBod’s official website.
Violators face sanctions
The Board reminded licence holders that compliance with pricing directives issued under the Ghana Gold Board Act, 2025 (Act 1140), is mandatory.
According to GoldBod, any individual or company that buys gold outside the official prices will commit an offence under the law and face sanctions.
To ensure compliance, the Board said it will deploy enforcement and compliance teams across gold-producing and trading centres nationwide.
Offending licence holders could face one or more sanctions, including:
- Suspension of their GoldBod licence;
- Revocation of their licence;
- Seizure of unlawfully traded gold;
- Prosecution before the courts; and
- Other administrative, civil or criminal penalties under the Ghana Gold Board Act and other applicable laws.
GoldBod seeks transparency and market stability
GoldBod said the new system aims to promote transparency, fairness, market stability and responsible sourcing in Ghana’s gold trading ecosystem.
As a result, all licensed buyers have been directed to familiarise themselves with the new framework and comply strictly with it from July 1, 2026.
The statement, issued on June 23, was signed by GoldBod Chief Executive Officer Samuel Gyamfi.
