GoldBod warns buyers as new XRF gold purity rules take effect September 1

The Ghana Gold Board (GoldBod) has announced stricter measures for determining gold purity, with licensed buyers and aggregators required to adopt X-Ray Fluorescence (XRF) testing from September 1, 2026.

The new directive is aimed at improving accuracy and consistency in the valuation of gold purchased through the country’s licensed buying network.

Under the new arrangement, XRF analysis will become the principal method for establishing the purity of gold doré purchased by GoldBod and licensed buyers. The Board’s directive, issued on August 17, replaces the water density method as the definitive basis for determining purity.

GoldBod has instructed licensed buyers to obtain appropriate XRF equipment and ensure that staff responsible for operating the machines receive the necessary training.

Buyers are also required to keep records of XRF readings for every gold transaction as part of efforts to strengthen monitoring and accountability across the sector.

The directive extends beyond individual licensed buyers. Licensed aggregators are expected to acquire suitable XRF equipment and make the machines available to their Tier 1 and Tier 2 buyers, allowing gold purity to be assessed closer to the point of purchase.

GoldBod, however, said the water density method could still be used where an XRF machine is genuinely unavailable due to operational or logistical difficulties.

Such measurements will only be treated as provisional. Where the method is used, the gold doré will be purchased with a minimum 0.5 per cent purity discount pending an XRF assessment by GoldBod.

The Board's subsequent XRF result will determine the final purity assessment and payment for the transaction.

GoldBod has also established a tolerance margin of plus or minus 0.05 per cent when successive XRF results relating to the same gold or transaction are compared.

Any difference exceeding the specified margin will trigger additional checks and reconciliation to establish the correct purity level.

The regulator has given all licensed buyers and aggregators until September 1 to comply with the new requirements.

Failure to meet the directive will constitute a breach of licence conditions and could result in regulatory or enforcement measures under the Ghana Gold Board Act, 2025 (Act 1140).

The latest measures form part of efforts by GoldBod to bring greater uniformity to gold purity assessment and minimise disputes or inconsistencies in transactions within the country's gold-buying chain.