GoldBod introduces new gold testing rules for local purchases
GoldBod has announced changes to gold testing rules for local purchases, effective from October 1, 2026.
In Brief
- •GoldBod has announced changes to gold testing rules for local purchases, effective from October 1, 2026.
- •X-Ray Fluorescence (XRF) testing will become the definitive method for determining gold purity.
- •The Water Density method will only provide an indication of purity and will not be used for final determination.
- •Licensed buyers must comply with the new rules by October 1, 2026.
- •Failure to comply may result in regulatory action under the Ghana Gold Board Act, 2025.
Why It Matters
The new gold testing rules introduced by GoldBod aim to enhance the accuracy and reliability of gold purity determination for local purchases. This change is expected to improve transparency and fairness in the gold trading market, benefiting both buyers and sellers. The shift to XRF testing will provide a more precise measurement of gold purity, reducing the potential for disputes and ensuring that payments are based on accurate assessments.
Key Details
- Effective Date
- October 1, 2026
- Primary Testing Method
- X-Ray Fluorescence (XRF)
- Secondary Testing Method
- Water Density
- Purity Discount for Water Density
- 0.7 percent
- Tolerance Level for XRF Results
- ±0.1 percent
Context & Background
The Ghana Gold Board (GoldBod) is responsible for regulating the gold trading market in Ghana. The board ensures that gold purchases and sales are conducted in a transparent and fair manner, protecting the interests of both buyers and sellers.
Original Reporting & Sources
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