US EditionGhana prohibits foreigners from trading gold in the country starting May 1
- Ghana has banned all foreigners from trading in its gold market, effective May 1, 2025, to enhance national revenue.
- Under the new law, GoldBod is now the only buyer, seller, and exporter of gold from the artisanal and small-scale mining sector.
- Ghana's gold exports surged by 53.2% last year, reaching $11.64 billion, largely from legal small-scale miners.
17 Articles
17 Articles
Foreigners face gold trading ban in Ghana beginning May 1
A newly established regulatory authority for gold exports in Ghana declared on Monday that foreign buyers will no longer be permitted to purchase or trade artisanally mined gold in the nation, which is Africa's leading gold producer.
Ghana bans direct gold trade with foreigners from May 1
Ghana wants to ban foreigners from buying or trading in gold from mines in the West African country. The measure, adopted by a new authority, will come into effect on May 1. The country wants to gain more control over the trade and to replenish its own gold reserves. Ghana is the largest gold producer in Africa and the sixth largest in the world. From next month, mined gold can only be purchased through the new gold authority: the Ghana Gold Boa…
Ghana Tightens Control Over Gold Exports As Yellow Metal Prices Surge - GraniteShares Gold Trust Shares of Beneficial Interest (ARCA:BAR), SPDR Gold Trust (ARCA:GLD)
As the gold price crossed $3,200 per ounce for the first time, Ghana, a major gold producer, has officially centralized control over its gold exports under a newly established government entity. Effective immediately, Ghana Gold Board (GoldBod) becomes the sole institution authorized to buy, sell, assay, and export gold from the country's artisanal and small-scale mining sector to curb illegal mining and boost state revenues. "The Ghana Gold Boa…
Associated Press News
Ghana prohibits foreigners from trading gold in the country starting May 1
A newly created regulatory body for gold exports from Ghana announced Monday that foreigners would no longer be allowed to buy or trade artisanaly mined gold in the country, Africa’s biggest gold producer.
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