The Ghana Gold Board (GoldBod) has engaged licensed gold traders in a bid to improve operational standards and promote greater transparency within Ghana's artisanal and small-scale gold mining trade.

The discussions focused on measures designed to ensure that gold trading activities comply with international best practices while protecting value across the entire supply chain, from miners to traders and the broader economy.

A major outcome of the engagement was the decision to adopt the London Bullion Market Association (LBMA) pricing formula and trading window.

GoldBod believes the move will help establish fair and transparent pricing mechanisms for gold transactions and improve trust within the sector.

Officials also stressed the need for all transactions to be documented and completed within the approved LBMA trading window.

The Board noted that this requirement would strengthen accountability, improve market oversight and support efforts to formalise the ASM gold trade.

GoldBod said the engagement reflects its determination to create a more responsible and ethical gold trading environment capable of supporting sustainable growth and enhancing Ghana's competitiveness in international gold markets.