GoldBod Announces New Official Gold Pricing Regime Effective July 1
Gladson Afriyie
Journalist
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The Ghana Gold Board (GoldBod) will implement a new official gold pricing regime starting July 1, 2026, replacing its current system of continuously updated live prices with the internationally recognized LBMA Gold Price benchmarks.
The announcement, issued Tuesday by GoldBod CEO Samuel Gyamfi, Esq., follows what the Board described as “extensive stakeholder engagements” with licensed gold buyers, aggregators, and other players in the gold trading value chain.
*Two Daily Price Windows*
Under the new regime, GoldBod will discontinue live price updates and instead publish two official gold purchase prices each trading day:
- *First official price*: 10:30 am, based on the LBMA Gold Price AM
- *Second official price*: 3:00 pm, based on the LBMA Gold Price PM
The Ghana Cedi equivalent will be determined by converting the LBMA price using the Bank of Ghana Reference Rate for the day. All prices will be published on http://www.goldbod.gov.gh.
*Mandatory Compliance*
GoldBod said the published prices constitute the mandatory official purchase price for all licensed gold buyers, aggregators, and traders when buying from licensed miners and traders during the applicable pricing window.
“All licensed buyers are required to strictly comply with the official GoldBod prices and shall not purchase gold at any other prices,” the statement read.
*Sanctions for Violations*
The Board reminded licensees that compliance with pricing directives under the Ghana Gold Board Act, 2025 (Act 1140) is mandatory.
Any person or entity buying gold outside the official price commits an offence under Act 1140 and faces sanctions, including:
- Suspension or revocation of GoldBod licence
- Seizure of unlawfully traded gold
- Prosecution before the courts
- Other administrative, civil, or criminal sanctions
To enforce the regime, GoldBod will deploy compliance teams across all gold-producing and trading hubs nationwide.
*Push for Transparency*
GoldBod said the shift aims to promote transparency, fairness, market stability, and responsible sourcing in Ghana’s gold trading ecosystem.
All licensed buyers are directed to familiarize themselves with and strictly comply with the new regime from July 1, 2026.
