The Ghana Gold Board (GoldBod) has announced new rules for determining the purity of gold purchased locally, with the revised requirements scheduled to take effect on October 1, 2026.
The changes will make X-Ray Fluorescence (XRF) assay the definitive method for establishing gold purity, determining prices and calculating payments for gold doré purchased by GoldBod and its licensed buyers. Editorial Ethics & Independence
The new requirements are contained in a compliance notice dated September 28, 2026, issued by the Board’s Compliance Directorate.
The notice outlines revised procedures for gold purity assessment, introduces a tolerance limit for differences between successive XRF test results and specifies the conditions under which the Water Density method may still be used.
Under the revised regime, the Water Density method will no longer serve as the final basis for determining gold purity or payment.
Instead, it will be used only to provide an indicative assessment of the gold’s purity, while the XRF method will determine the applicable payment for all gold doré purchased by GoldBod and its licensed buyers.
The change establishes a clear standard for assessing gold at the point of purchase and is intended to promote consistency in transactions across the licensed gold-buying sector.
Water Density Method Retained Under Specific Conditions
Although XRF testing will become the definitive method, GoldBod has outlined limited circumstances in which the Water Density method may be used.
According to the notice, 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 doré must be purchased at a 0.7 per cent purity discount based on the Water Density assessment.
This means that transactions conducted under the permitted alternative method will be subject to a discount rather than being valued solely on the purity indicated by the Water Density test.
The provision gives licensed buyers a defined procedure for handling situations where XRF testing is unavailable or both parties agree to an alternative assessment. However, the discount condition means that the alternative method cannot be used under the same payment terms as the definitive XRF-based process.
The revised rules therefore make the choice of testing method an important consideration for licensed buyers and sellers negotiating local gold purchases. Editorial Standards
GoldBod Introduces Tolerance for XRF Test Results
The new compliance notice also introduces a tolerance limit to address differences between successive XRF assay reports for the same gold or transaction.
GoldBod has stipulated that the permissible purity difference between two XRF reports must remain within plus or minus 0.1 per cent.
Where the difference between successive reports exceeds the prescribed range, further verification will be required before the transaction can be completed or reported to the Board.
The requirement establishes a defined threshold for identifying discrepancies that may need additional assessment. It also places greater importance on the consistency of testing procedures and the accuracy of recorded assay results.
For licensed buyers, the rule means that differences beyond the permitted margin cannot simply be ignored when finalising a purchase. The results must first undergo the required verification process.
This procedure is particularly relevant where purity assessments determine the amount payable for a gold transaction.
Consistent results help provide a clearer basis for calculating payments and resolving disagreements over the purity of gold presented for sale.
Licensed Buyers Given October 1 Compliance Deadline
GoldBod has directed all aggregators and licensed gold buyers to take the necessary steps to ensure they are fully prepared to implement the revised requirements by October 1.
The directive makes compliance a licensing obligation rather than a voluntary operational guideline. The Board warned that failure to follow the new rules would constitute a breach of the terms and conditions attached to the relevant licences.
Such breaches could attract regulatory or enforcement action under the Ghana Gold Board Act, 2025 (Act 1140). Corrections Policy
Licensed operators will therefore need to ensure that their testing arrangements, transaction procedures and record-keeping practices are consistent with the revised notice before the implementation date.
The notice forms part of the conditions governing licences issued by GoldBod to aggregators and licensed gold buyers. Its requirements apply to the relevant operators involved in local gold purchases.
Part of Wider Efforts to Regulate Gold Trading
The revised assay rules follow an earlier GoldBod directive announced in August that established XRF testing as the standard method for determining gold purity from September 1, 2026.
The latest notice sets out updated conditions, including the 0.7 per cent discount for permitted Water Density assessments and a revised tolerance of plus or minus 0.1 per cent between successive XRF reports.
The changes form part of GoldBod’s broader regulatory role in overseeing the purchase, valuation and trading of gold in Ghana.
Accurate purity assessment is central to gold transactions because the quantity of pure gold contained in a doré sample influences its valuation and the payment due to the seller.
By setting out a definitive testing method and procedures for resolving discrepancies, the Board has established clearer requirements for licensed buyers to follow when purchasing gold locally.
As the October 1 deadline approaches, aggregators and licensed buyers will be expected to align their operations with the revised rules. Newscard
The effectiveness of the new regime will depend on consistent implementation, reliable testing practices and compliance with the conditions established by GoldBod.
The Board’s notice makes clear that operators must prepare for the changes before the deadline, with non-compliance potentially exposing them to regulatory sanctions under the applicable law.