The Ghana Gold Board (GoldBod) has announced changes to the assay regime used to determine the purity of gold purchased locally.
Under the new directive, the Water Density method of assay will, from October 1, 2026, be used only as an indicative assessment of gold purity and will no longer serve as the definitive basis for determining purity, pricing or payment.
GoldBod said the X-Ray Fluorescence (XRF) assay method will instead become the definitive method for determining gold purity and will form the basis for payments for all gold doré purchased by the institution and its licensed buyers.
In a statement issued on Monday, September 28, GoldBod said, “With effect from October 1, 2026, the Water Density method of assay shall be used solely as an indicative assessment of gold purity for local gold purchases and shall not constitute the definitive basis for determining the purity, pricing and/or payment for gold purchased by the GoldBod or its licensed buyers.”
However, where a licensed buyer is unable to use the XRF method due to a genuine operational or logistical constraint, or where the buyer and seller voluntarily agree to use the Water Density method, the gold doré will be purchased at a 0.7% purity discount on the purity determined through the Water Density method.
GoldBod has also directed all licensed buyers to apply an appropriate purity deviation limit when comparing successive XRF assay reports for the same gold or transaction.
The permissible purity differential between one XRF report and another must remain within a range of plus or minus 0.1%.
Any purity differential exceeding the limit will be subject to further verification before the transaction is concluded or reported to GoldBod.
GoldBod said strict compliance with the new requirements will take effect on October 1, 2026.
The directive forms part of the terms and conditions of all licences issued by GoldBod to aggregators and licensed gold buyers.
It warned that failure to comply with the notice will constitute a breach of the applicable licence terms and conditions and may attract regulatory and enforcement measures under the Ghana Gold Board Act, 2025 (Act 1140).
GoldBod has therefore directed all licensed buyers and aggregators to take the necessary steps to ensure full operational readiness by October 1.
A Daily Guide Report