The Ghana Gold Board (GoldBod) has reduced the discount on gold traded in Ghana by more than 10%, a move aimed at securing better prices and retaining more value from the country’s mineral resources.

The Chief Executive Officer of GoldBod, Sammy Gyamfi, said the pricing reform is part of GoldBod’s broader efforts to strengthen Ghana’s gold trading system since assuming responsibility for the domestic trade.

“GoldBod has been able to discount the price of gold in Ghana by more than 10%...The idea is to make sure that the gold produced in Ghana is properly priced and that we retain the value within Ghana,” he explained during an X Space discussion on Sunday, August 9, 2026.

Previously, Ghanaian gold was sold at prices below prevailing international market levels.

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GoldBod has introduced measures to narrow the gap, ensuring producers and the country benefit more directly from exports.

The institution is also registering and profiling licensed gold buyers to improve tracking of transactions, while increasing monitoring to enhance transparency and reduce losses.

Another priority is local refining, which Sammy Gyamfi said would allow Ghana to capture more value before exports.

GoldBod expects the reforms to boost foreign exchange earnings, strengthen Ghana’s position in the international gold market, and contribute to broader economic growth.

DR/SA