The Ghana Gold Board (GoldBod) has intensified efforts to strengthen transparency and accountability in the country's gold trading sector through an engagement with licensed gold traders operating within the Artisanal and Small-Scale Mining (ASM) industry.

The meeting forms part of GoldBod's broader strategy to improve gold trading practices and align operations within the ASM sector with internationally recognised standards.

The initiative is aimed at protecting the interests of miners and traders while enhancing the contribution of the gold industry to the national economy.

During the engagement, participants discussed measures to promote fairness and transparency in gold transactions.

Among the key initiatives outlined was the adoption of the London Bullion Market Association (LBMA) pricing formula and trading window as the basis for determining gold prices, a move expected to improve pricing consistency and strengthen confidence in the sector.

GoldBod also emphasised the importance of ensuring that all gold transactions are recorded and booked within the approved LBMA pricing window.

According to the Board, this measure will improve accountability, facilitate proper record-keeping and enhance the integrity of Ghana's gold trading system.

The Board reaffirmed its commitment to building a responsible and sustainable ASM gold sector that safeguards the interests of Ghanaian miners, promotes ethical business practices and strengthens Ghana's position within the global gold market.