The Ghana Gold Board (GoldBod) has announced changes to the regime used to determine the purity of gold purchased locally, with the new measures taking effect on October 1, 2026.
Under the revised regime, X-Ray Fluorescence (XRF) assay will become the definitive method for determining the purity of gold doré and calculating payments to be made by GoldBod and its licensed buyers.
The changes are contained in a compliance notice issued by the GoldBod Compliance Directorate on September 28, 2026, as part of measures to standardise gold purity assessment in local purchases.
According to the notice, the water density method of assaying gold will no longer serve as the definitive basis for determining purity, pricing or payment.
From October 1, the method will be used solely as an indicative assessment of gold purity in local gold purchases.
This means that purity determined through water density alone will not ordinarily form the final basis for calculating the amount payable for gold purchased by GoldBod or its licensed buyers.
The GoldBod has instead designated XRF assay as the principal method for establishing the purity of gold doré.
The new directive states that the results of XRF assays will constitute the basis for determining applicable payments for all gold doré purchased by GoldBod and its licensed buyers.
The move is expected to establish a uniform basis for assessing gold purity in transactions involving licensed buyers and aggregators.
GoldBod has consequently directed all licensed buyers and aggregators to take the necessary operational steps to ensure that they are ready to comply with the new requirements by October 1.
GoldBod has, however, made provisions for situations where the XRF method cannot be used.
Where a licensed buyer faces a genuine operational or logistical constraint that prevents the use of XRF, or where both the buyer and seller voluntarily agree to use the water density method, the transaction may still proceed under specified conditions.
In such cases, the gold doré will be purchased at a 0.7% purity discount on the purity determined through the water density method.
The provision effectively establishes a financial adjustment for transactions where the definitive XRF assessment is not used.
The notice has also introduced a purity differential or tolerance requirement for XRF assay results.
All licensed buyers are required to apply an appropriate purity deviation limit, described as a splitting limit, when comparing successive XRF assay reports relating to the same gold or transaction.
The permissible purity differential between one XRF report and another must remain within a range of ±0.1%.
GoldBod said any purity differential exceeding the permitted deviation limit must undergo further verification before the transaction can be concluded or reported to the Board.
The requirement is intended to provide an additional verification mechanism where successive assay results produce differences beyond the prescribed tolerance.
GoldBod has reminded all aggregators and licensed gold buyers that strict compliance with the new requirements will commence on October 1, 2026.
The notice forms part of the terms and conditions governing licences issued by GoldBod to aggregators and licensed gold buyers.
Consequently, failure to comply with the revised assay requirements will constitute a breach of the applicable licence terms and conditions.
GoldBod said such breaches may attract appropriate regulatory and enforcement measures under the Ghana Gold Board Act, 2025 (Act 1140).
The Board has therefore directed all affected operators to ensure that their systems, equipment and operational procedures are ready ahead of the implementation date.
By 1960news.com
