The Ghana Gold Board (GoldBod) has engaged licensed gold traders as part of efforts to strengthen operational standards and improve transparency within Ghana’s artisanal and small-scale mining (ASM) gold sector.
The discussions focused on measures aimed at ensuring that gold trading practices align with international best standards, while safeguarding value across the entire supply chain—from miners and traders to the wider economy.
A key outcome of the engagement was the decision to adopt the London Bullion Market Association (LBMA) pricing formula and trading window to guide gold transactions in the country.
GoldBod said the move is expected to promote fair and transparent pricing, enhance market confidence, and build trust among stakeholders in the gold trading ecosystem.
Officials also emphasised the need for all gold transactions to be properly documented and executed within the approved LBMA trading window.
According to the Board, this requirement will strengthen accountability, improve market oversight, and support ongoing efforts to formalise the artisanal and small-scale gold trade.
GoldBod added that the engagement forms part of its broader commitment to building a more responsible and ethical gold trading environment that supports sustainable growth and strengthens Ghana’s competitiveness in the global gold market.