How to sell your gold in Ghana

Prior to 2025, every miner had their own liberty to sell their gold to anyone of their choice, whether in Ghana or abroad. Currently, the selling of gold is structured and highly regulated by Goldbod. Where miners, or people who have obtained gold through inheritance, are required to sell their gold to either a tier one or tier two gold buyer accredited by GoldBod. The seller has to locate an accredited gold buyer in their community or any other community in Ghana.

About Goldbod

Gold Board Ghana, which is also called Goldbod for short, is a statutory institution created under the Ghana Gold Board Act, 2025 (Act 1140). strictly regulates the price of gold and who is eligible to buy it in Ghana. On a daily basis, Goldbod releases their new price twice, with the first price being released at 9:30AM and the second price being released at 1:59PM. This dual pricing for gold set by Goldbod is to enable both sellers and buyers of the commodity to trade with great profit expectation.

Aggregators

There are three gold buyers officially recognized by Goldbod, and in a hierarchy mode, aggregators are on the top level, followed by tier two buyers and lastly tier one buyers. The aggregators are the ones responsible for collating gold from small scale miners all over Ghana, and they do so by receiving it from licensed tier two buyers.

Tier Two Gold Buyers

Next in line are the tier two gold buyers scattered over Ghana in various mining areas like Tarkwa, Obuasi, Manso, etc. They have been given the authorization to purchase gold from tier one buyers and even directly from miners popularly known as galamseyers. Tier two buyers always ensure to check the new price released by Goldbod before they begin trading to avoid running at a loss.

Tier One Gold Buyers

Like a pyramid, which has a larger base, the tier one gold buyers have a bigger buying network across Ghana. They purchase their gold directly only from small scale miners or galamseyers and sell it to only tier two buyers.