Ghana Gold Board Mandates XRF Assay for All Local Purchases from October 1, Tightens Purity Verification
The Ghana Gold Board (GoldBod) is implementing a significant shift in its assay regime for local gold purchases, making X-Ray Fluorescence (XRF) the definitive standard for determining gold purity effective October 1, 2026. This move signals a move towards enhanced accuracy and transparency in the gold trading sector, with direct implications for licensed buyers, aggregators, and their legal and compliance teams.
In a compliance notice issued on September 28, GoldBod declared that the water density method will henceforth serve only as an indicative assessment. It will no longer be the basis for pricing or payment. XRF assay will now be the official and conclusive method for purity determination, forming the foundation for all payments made by GoldBod and its licensed buyers.
The Board has also introduced provisions for situations where XRF assay may not be immediately feasible. Where a licensed buyer faces genuine operational or logistical constraints preventing XRF use, or in cases of mutual agreement between buyer and seller to employ the water density method, gold will be purchased at a 0.7 percent discount on the purity determined by water density. This acknowledges practical challenges while maintaining a premium for the more precise XRF method.
Furthermore, GoldBod has established a purity differential tolerance for licensed buyers when comparing successive XRF assay reports for the same gold or transaction. The permissible purity difference between XRF reports is capped at plus or minus 0.1 percent. Any deviation exceeding this limit will necessitate further verification before a transaction can be finalised or reported to GoldBod. This measure aims to prevent discrepancies and ensure consistent quality assessment.
All aggregators and licensed buyers are directed to ensure full compliance with this new regime by the October 1 implementation date. GoldBod has issued a stern warning that non-compliance will be considered a breach of licence terms and conditions, potentially leading to regulatory and enforcement actions under the Ghana Gold Board Act, 2025 (Act 1140). Businesses operating within Ghana’s gold sector are advised to proactively review their processes and ensure operational readiness to meet these new stringent requirements.
