The Ghana Gold Board (GoldBod) has introduced a mandatory pricing threshold for all domestic gold purchases, effective June 24, 2026.
The regulatory directive follows extensive consultations with industry stakeholders and aims to stabilize the national gold trading ecosystem by preventing unapproved price inflation.
Under the new framework, licensed gold buyers are strictly prohibited from purchasing gold from local miners or traders at prices exceeding a specified aggregate formula.
The cap is determined by the official GoldBod Published Price at the time of purchase, combined with an approved rate-gap bonus for licensed miners where applicable, and a strictly regulated commission allocation.
The regulator clarified that tier-two buyers may only add a maximum of GHS 30.00 from their allotted commission to the final purchase or sale price, a decision left entirely to the individual buyer’s discretion.
In an official notice issued ahead of the rollout, GoldBod emphasized that no licensed buyer shall bypass these components, declaring that “no tier 2 buyer is allowed to add more than GHS30 of their allotted commission to the price at which they buy or sell gold.”
Compliance with the newly enacted guidelines is mandatory.
The state regulator warned that violations would be treated as severe statutory offenses under domestic mining and trading frameworks.
According to the state directive, “failure to comply with the approved pricing threshold constitutes a breach of the terms and conditions governing their licence and shall amount to an offence under section 63 (1) (c) and (2) of the Ghana Gold Board Act, 2025 (Act 1140).”
To ensure strict adherence, GoldBod has outlined severe administrative and legal sanctions for non-compliant market participants.
Buyers found purchasing gold in contravention of the price cap will face immediate enforcement actions, including criminal prosecution, the temporary suspension of operating licenses, or the outright revocation of trading credentials.
The leadership of the state board indicated that the policy shift is vital for protecting the broader economy and maintaining international confidence in Ghanaian mineral exports.
Chief Executive Officer Samuel Gyamfi noted that the authority counts on the cooperation of all licensed gold buyers to ensure the continued integrity, stability, and sustainability of Ghana’s gold trading ecosystem.
By: Rainbowradioonline.com/Ghana