The Ghana Gold Board (GoldBod) has announced new rules for determining the purity of gold bought locally, with the changes taking effect from October 1, 2026. The new regime will see the X-Ray Fluorescence (XRF) assay method become the definitive basis for determining gold purity, pricing, and payment for all gold doré purchased by GoldBod and its licensed buyers. This change aims to provide a more accurate and reliable method for assessing gold purity.
Under the new rules, the Water Density method will only be used as an indicative assessment of gold purity and will no longer serve as the final basis for determining payment. However, where a licensed buyer is genuinely unable to use XRF due to operational or logistical constraints, or where both the buyer and seller voluntarily agree to use the Water Density method, the gold doré will be purchased at a 0.7 percent purity discount based on the Water Density assessment.
The new notice also introduces a tolerance level for differences between successive XRF assay results for the same gold or transaction. According to GoldBod, the permissible purity difference between two XRF reports must remain within plus or minus 0.1 percent. This tolerance level is designed to ensure that transactions are conducted fairly and transparently.
GoldBod has directed all aggregators and licensed gold buyers to ensure they are fully prepared to comply with the new requirements by October 1. The Compliance Directorate warned that failure to comply will constitute a breach of the terms and conditions of the relevant licences and could result in regulatory or enforcement action under the Ghana Gold Board Act, 2025 (Act 1140).
The new rules are contained in a press release dated September 28, 2026, and form part of the conditions governing licences issued by GoldBod to aggregators and licensed gold buyers. The changes are expected to have a significant impact on the gold industry in Ghana, providing a more accurate and reliable method for assessing gold purity.
The implementation of the XRF assay method is expected to improve the efficiency and transparency of gold transactions in Ghana. The new rules will also help to ensure that gold buyers and sellers are operating on a level playing field, with clear guidelines for determining gold purity and pricing.
GoldBod's decision to introduce new rules for gold assay is part of its efforts to regulate the gold industry in Ghana. The Ghana Gold Board Act, 2025 (Act 1140) provides the framework for the regulation of the gold industry, and the new rules are designed to ensure compliance with this Act.
Key points
- The XRF assay method will become the definitive basis for determining gold purity, pricing, and payment for all gold doré purchased by GoldBod and its licensed buyers.
- The Water Density method will only be used as an indicative assessment of gold purity and will no longer serve as the final basis for determining payment.
- The permissible purity difference between two XRF reports must remain within plus or minus 0.1 percent.
