Ghana Ties Gold Prices to LBMA Benchmark Amid Refining Infrastructure Gap
Ghana has introduced several measures to tighten its gold pricing and refining architecture. As of July 1, 2026, GoldBod began publishing official domestic gold-purchase prices in two daily windows tied to the LBMA AM and PM benchmarks.
The new rules require that artisanal doré be processed at a refinery approved by GoldBod before export, and that X-ray fluorescence (XRF) assay be used as the standard method for determining gold purity. The water-density method is no longer definitive unless XRF cannot be used, in which case it may serve as an indicative measure with a 0.5% purity discount.
No Ghanaian refinery currently holds LBMA Good Delivery status, which determines whether a refiner's qualifying bars are accepted within the London bullion market's Good Delivery framework.