GoldBod cuts Gold Pricing discount by over 10% to retain more value in Ghana

The Ghana Gold Board (GoldBod) has reduced the discount applied to gold traded domestically by more than 10%, as part of efforts to ensure Ghana secures better returns from its gold resources.

GoldBod Chief Executive Officer, Sammy Gyamfi, said the pricing adjustment forms part of a broader reform programme aimed at improving the country’s gold trading system since the institution took charge of domestic gold purchases.

Speaking during an X Space discussion on Sunday, August 9, 2026, Mr Gyamfi said the reduction in the discount was intended to narrow the gap between local gold prices and international market values.

“GoldBod has been able to discount the price of gold in Ghana by more than 10%…The idea is to make sure that the gold produced in Ghana is properly priced and that we retain the value within Ghana,” he said.

He explained that Ghanaian gold had historically been purchased at prices significantly below prevailing international market rates, resulting in potential value losses to producers and the wider economy.

Under the new arrangements, GoldBod is working to improve pricing conditions so that local producers and the country can derive greater value from gold sold on the international market.

The institution is also strengthening oversight of the domestic gold trade by registering and profiling licensed gold buyers.

According to GoldBod, the initiative is expected to improve the traceability of transactions, strengthen monitoring and promote greater transparency throughout the gold supply chain.

Mr Gyamfi also identified local refining as another important component of the reforms.

He said processing more of Ghana’s gold domestically before export would enable the country to retain a larger share of the economic value generated from its mineral resources.

GoldBod expects the measures to increase Ghana’s foreign exchange earnings, improve the country’s competitiveness in the global gold industry and contribute to broader economic development.

The reforms form part of efforts to create a more transparent and value-driven gold trading system that ensures a greater portion of the benefits from Ghana’s gold resources remains within the country.

Prince Antwi

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