The Ghana Gold Board (GoldBod) has tightened its gold purity verification regime, making X-Ray Fluorescence (XRF) testing mandatory for all gold purchases from September 1, 2026.

The new directive is intended to improve the accuracy and consistency of gold purity assessments, reduce disputes in transactions and strengthen transparency across Ghana’s gold-buying chain.

Under a compliance notice issued on August 17, GoldBod said XRF analysis would become the standard method for determining the purity of gold doré purchased by the Board and its licensed buyers.

The directive effectively removes the water density method as the definitive basis for determining gold purity, although the method may still be used under limited circumstances where an XRF machine is genuinely unavailable.

Buyers to acquire XRF equipment

GoldBod has directed all licensed buyers to acquire appropriate XRF equipment and ensure that personnel responsible for testing are adequately trained to operate the machines.

Buyers will also be required to maintain records of XRF measurements for every gold purchase, creating a traceable record of purity assessments and transactions.

The regulator is extending the requirement across the gold-buying chain to ensure that accurate purity testing takes place as close to the point of purchase as possible.

Licensed aggregators have consequently been directed to acquire suitable XRF machines and deploy them to their respective Tier 2 and Tier 1 buyers.

The move is expected to reduce inconsistencies that may arise when gold purity is assessed using less precise methods and provide greater confidence to both buyers and sellers.

Water density method restricted

GoldBod has not completely eliminated the water density method but has significantly reduced its role.

Where an XRF device is genuinely unavailable because of operational or logistical constraints, the water density method may be used only as an indicative measurement.

In such circumstances, the gold doré must be purchased at a minimum 0.5 per cent purity discount.

GoldBod will subsequently conduct its own XRF assessment, with the Board’s result serving as the basis for the final determination of purity and payment.

The arrangement is designed to protect the integrity of transactions where immediate XRF testing is not possible while ensuring that the final valuation is based on the regulator’s preferred testing method.

New tolerance threshold

GoldBod has also introduced a ±0.05 per cent tolerance when comparing successive XRF reports relating to the same gold or transaction.

Any variation exceeding the stipulated threshold will trigger further verification and reconciliation.

The requirement is expected to help identify significant discrepancies between purity measurements and ensure that differences are investigated before transactions are conclusively settled.

Compliance deadline

All licensed buyers and aggregators are required to comply with the new regime from September 1, 2026.

GoldBod warned that failure to comply will constitute a breach of licence conditions and could result in regulatory and enforcement action under the Ghana Gold Board Act, 2025 (Act 1140).

The directive therefore places new operational responsibilities on licensed participants in the gold-buying market, particularly in relation to equipment acquisition, staff training, record keeping and quality control.

Push for greater transparency

The mandatory XRF regime forms part of efforts to strengthen standards within Ghana’s gold market and improve confidence in the determination of gold purity.

Accurate purity assessment is critical because even small differences in gold content can have significant financial implications in high-value transactions.

By requiring the use of a standardised testing technology, GoldBod is seeking to minimise discrepancies in purity determination and establish a more consistent basis for pricing and payment.

The requirement for buyers to retain testing records could also strengthen accountability by creating an audit trail for individual gold purchases.

For licensed aggregators, the obligation to make XRF equipment available to lower-tier buyers is expected to push the standard further down the supply chain, reducing the likelihood that gold enters the formal buying system without reliable purity verification.

The new framework will therefore require stronger compliance by gold-buying businesses but is expected to provide greater certainty to the market.

From September 1, XRF testing will become the principal benchmark for gold purity determination, signalling a significant shift in the way Ghana’s gold purchases are assessed and documented.