The Ghana Gold Board (GoldBod) has taken another major step toward improving the country's gold trading system by engaging licensed gold traders on new measures aimed at increasing transparency, accountability, and professionalism in the sector.

The meeting, held with traders operating in Ghana's artisanal and small-scale mining industry, forms part of GoldBod's broader efforts to modernise the country's gold trade and ensure it meets internationally accepted standards. 

One of the key outcomes of the engagement was the introduction of a pricing system based on the London Bullion Market Association (LBMA), one of the world's most respected benchmarks for gold pricing. Under the new arrangement, gold transactions will be carried out using internationally recognised pricing windows, helping to ensure fair and transparent prices for both miners and licensed traders. 

GoldBod explained that all gold transactions will also be recorded and booked within the approved LBMA trading window. This is expected to improve accountability, strengthen confidence in the gold market, and make it easier to track transactions across the supply chain. 

During the discussions, the Board and traders also explored ways to improve efficiency within the industry while ensuring compliance with regulations and global best practices. GoldBod said these reforms are designed to build a more organised and responsible gold trading system that supports the sustainable growth of Ghana's artisanal and small-scale mining sector.

The Board reaffirmed its commitment to working closely with licensed operators to promote ethical trading, improve traceability, and strengthen confidence in Ghana's gold value chain.

The latest reforms form part of GoldBod's wider strategy to build a transparent and internationally competitive gold trading framework that benefits miners, traders, investors, and the Ghanaian economy.