Ghana’s national gold regulator, Gold Board (GoldBod), has announced a new pricing system which is scheduled to take effect from July 1.

Unlike the old system, where GoldBod published continuously updated live gold prices throughout the trading day (weekdays, excluding holidays and weekends), the new regime will operate at fixed times, specifically at 10:30 a.m. GMT and 3:00 p.m., in accordance with the internationally recognised LBMA Gold Price AM and LBMA Gold Price PM.

These two benchmarks will be the only official reference points each day and will be converted into cedis using the Bank of Ghana Reference Rate.

GoldBod announced this in a formal statement dated June 23, noting that the move follows stakeholder engagements.

“The Ghana Gold Board ("GoldBod") wishes to inform all licensed gold buyers, aggregators, self-financed aggregators, and other licensed holders in the gold trading value chain that, following extensive stakeholder engagements, a new gold pricing system shall take effect from 1 July 2026.

Under the new regime, the GoldBod shall discontinue the publication of continuously updated live gold prices and shall instead adopt the internationally recognised 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,” parts of the statement said.

GoldBod also directed that all players in the gold trading chain must comply with the official gold prices published when making purchases.

“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.

All licensed buyers are required to strictly comply with the official GoldBod prices published under this regime and shall not purchase gold at any other prices other than the officially published GoldBod price.

All prices shall be published on the official website of the GoldBod (www.goldbod.gov.gh),” it added, citing the Ghana Gold Board Act, 2025 (Act 1140), which establishes GoldBod as the statutory regulator of Ghana’s gold trading value chain, with powers over licensing, pricing, enforcement, and anti-smuggling, as well as setting out the Board’s governance, functions, financial provisions, licensing requirements, and penalties for violations.

“The GoldBod wishes to remind all licensees that compliance with official pricing directives issued pursuant to the Ghana Gold Board Act, 2025 (Act 1140) is mandatory.

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,” GoldBod stressed.

Consequently, “To ensure full compliance, the GoldBod shall deploy enforcement and compliance teams across all gold-producing and trading hubs throughout the country to monitor adherence to the new pricing regime.

Offending licensees shall be liable to one or more of the following actions: suspension of their GoldBod licence, revocation of their GoldBod licence, seizure of unlawfully traded gold where applicable, prosecution before the appropriate courts, and any other administrative, civil, or criminal sanctions available under the Ghana Gold Board Act, 2025 (Act 1140) and other applicable laws.”

The GoldBod remains committed to promoting transparency, fairness, market stability, and responsible sourcing within Ghana's gold trading ecosystem. All licensed buyers are therefore directed to familiarise themselves with and strictly comply with this new pricing regime from 1 July 2026.