GoldBod introduces new official Gold pricing regime effective July 1

The Ghana Gold Board (GoldBod) has announced a new official gold pricing regime that will take effect on July 1, 2026, aimed at improving transparency, fairness and stability in the country’s gold trading sector.

Under the new framework, GoldBod will discontinue the publication of continuously updated live gold prices and instead adopt the internationally recognised London Bullion Market Association (LBMA) Gold Price AM and LBMA Gold Price PM benchmarks as the sole basis for determining official local gold purchase prices.

In a statement issued on June 23, 2026, GoldBod said the policy was developed following extensive consultations with stakeholders across the gold trading value chain.

As part of the new arrangement, two official gold purchase prices will be published each trading day. The first will be released at 10:30 a.m. based on the LBMA Gold Price AM, while the second will be issued at 3:00 p.m. using the LBMA Gold Price PM benchmark.

The Board noted that the Ghana cedi equivalent of the official purchase price will continue to be calculated using the Bank of Ghana Reference Rate (BRR) for the day.

According to GoldBod, the published prices will serve as the mandatory official purchase prices for all licensed gold buyers, aggregators, self-financed aggregators and other licensed operators within the sector.

The Board directed all licensed buyers to strictly comply with the new pricing regime and cautioned against purchasing gold at rates that differ from the officially published GoldBod prices.

GoldBod further reminded stakeholders that compliance with pricing directives issued under the Ghana Gold Board Act, 2025 (Act 1140), is mandatory.

It warned that any person or entity found purchasing gold outside the approved pricing framework would be considered to have committed an offence under the law.

To ensure compliance, GoldBod said it will deploy enforcement and compliance teams to gold-producing and trading centres across the country to monitor adherence to the new system.

Sanctions for violations may include suspension or revocation of licences, seizure of unlawfully traded gold, prosecution and other administrative, civil or criminal penalties provided under the Act.

GoldBod said the introduction of the new pricing regime forms part of its broader efforts to promote transparency, fairness, market stability and responsible sourcing within Ghana’s gold trading industry.

THE GHANA GOLD BOARD (“GOLDBOD”) ANNOUNCES THE IMPLEMENTATION OF NEW OFFICIAL GOLD PRICING REGIME EFFECTIVE 1 JULY 2026 pic.twitter.com/7DGQh6WJGT

— Ghana GOLDBOD (@GhanaGOLDBOD) June 23, 2026

Prince Antwi

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