GoldBod Orders Timely Booking for All Gold Purchases

The Ghana Gold Board (GoldBod) has directed all licensed gold buyers to book every gold purchase within 5 minutes of completion, as part of new compliance measures taking effect immediately.

In a statement, GoldBod said the directive is aimed at ensuring prompt and accurate recording of all transactions between licensed buyers and licensed miners or traders.

Under the new rule, every licensed buyer must, within five minutes of completing a purchase, communicate transaction details to their financing Tier 2 Buyer or Aggregator.

Communication can be by telephone call, text message, or any other GoldBod-approved channel.

Per the requirements, bookings can only be made from morning until 8:00 pm each trading day, while every licensed buyer must issue a detailed receipt immediately after each purchase.

It also requires that all purchase receipts and supporting records must be properly maintained and produced for inspection when demanded by GoldBod or its authorised officers.

The GoldBoard warned that failure to promptly book purchases, keep proper records, or issue compliant receipts violates Section 64(1)(c) and (2) of the Ghana Gold Board Act, 2025, Act 1140.

Offenders will face sanctions and enforcement measures prescribed under the Act.

The Board advised all licensed gold buyers to comply fully and immediately with the directive.

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