The Ghana Gold Board (GoldBod) has announced the introduction of a new official gold pricing regime that will take effect on July 1, 2026, replacing the current system of continuously updated live gold prices with internationally recognised benchmark pricing windows.

The move, according to the Board, follows extensive stakeholder engagements and is aimed at promoting transparency, fairness and stability within Ghana’s gold trading sector.

In a notice issued on June 23, GoldBod said it would adopt the LBMA Gold Price AM and LBMA Gold Price PM as the sole benchmarks for determining official local gold purchase prices in Ghana.

“The GoldBod shall discontinue the publication of continuously updated live gold prices and shall instead adopt the internationally recognized LBMA Gold Price AM and LBMA Gold Price PM pricing windows as the sole benchmarks for determining the official local gold purchase price in Ghana,” the Board stated.

Under the new regime, 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, while the second will be published at 3:00 p.m. based on the LBMA PM price.

The Board explained that the applicable Ghana cedi purchase price would continue to be calculated by converting the relevant LBMA benchmark using the Bank of Ghana Reference Rate for the day.

“The published GoldBod price shall constitute the mandatory official purchase price at which all licensed gold buyers, aggregators, self-financed aggregators and other licensed holders shall purchase gold from licensed miners and licensed traders during the applicable pricing window,” the notice said.

GoldBod further directed all licensed buyers to strictly adhere to the published official prices and warned that purchasing gold at any other price would constitute a violation of the Ghana Gold Board Act, 2025 (Act 1140).

“Any person or entity that purchases gold in contravention of the official GoldBod price, in violation of the prescribed pricing regime shall be deemed to have committed an offence under the Ghana Gold Board Act, 2025 (Act 1140) and shall be subject to the sanctions prescribed by law,” the Board cautioned.

It added that all official prices would be published on its website and compliance with the pricing directives would be mandatory.

To enforce the new system, GoldBod said it would deploy compliance and enforcement teams across gold-producing and trading centres nationwide to monitor adherence.

The Board warned that offending licensees could face sanctions including suspension or revocation of their licences, seizure of unlawfully traded gold, prosecution before the courts, and other administrative, civil or criminal penalties under the law.

Reaffirming its commitment to responsible gold trading, GoldBod stated, “The GoldBod remains committed to promoting transparency, fairness, market stability, and responsible sourcing within Ghana’s gold trading ecosystem,” and urged all licensed operators to familiarise themselves with and comply fully with the new pricing regime ahead of its implementation on July 1.