The Ghana Gold Board (GoldBod) has announced changes to the method used to determine the purity, price and payment of gold purchased locally, with the new regime taking effect from October 1, 2026.
Under the new arrangement, the X-Ray Fluorescence (XRF) assay method will become the definitive basis for determining the purity of gold doré purchased by GoldBod and its licensed buyers.
GoldBod said the Water Density method will no longer be used as the final basis for determining gold purity, pricing or payment. Instead, it will serve only as an indicative assessment of purity.
The Board explained that where a licensed buyer is genuinely unable to use XRF because of operational or logistical constraints, or where the buyer and seller voluntarily agree to use the Water Density method, the gold will be purchased at a 0.7 percent purity discount based on the Water Density assessment.
GoldBod has also introduced a permissible tolerance level for differences between successive XRF assay results for the same gold or transaction.
According to the Board, the difference between two XRF assay reports must remain within plus or minus 0.1 percent. Where the difference exceeds that threshold, the transaction will be subjected to further verification before it is concluded or reported to GoldBod.
The Board said the new assay regime is part of its efforts to strengthen transparency, standardise gold valuation and tighten controls across Ghana’s gold trading value chain.
GoldBod has consequently directed all licensed buyers and aggregators to take the necessary steps to ensure full operational readiness ahead of the October 1, 2026 implementation date.
The Ghana Gold Board is the statutory authority responsible for buying, selling, weighing, grading, assaying, valuing and exporting gold and other precious minerals in Ghana.
Source: Ghana Gold Board
