Gold ended the week 2.7% higher in Ghana. GoldBod’s official 3:00 PM price on Friday 6 November is GH₵11,182 per pound (about US$967.30), up GH₵298 (+2.74%) on Monday’s weekly open of GH₵10,884. It is set from the London afternoon benchmark (LBMA PM) of US$4,049.60 an ounce, up 2.4% on Monday’s US$3,955.25, at a reference rate of GH₵11.56 per dollar. The price is valid until 8:30 PM on Saturday.
The week in GoldBod prices
| GoldBod window | GH₵ per pound | US$ per pound | Set from (US$/oz) | Rate (GH₵ per US$) |
|---|---|---|---|---|
| Mon 2 Nov, PM (weekly open) | 10,884 | 944.79 | LBMA PM 3,955.25 | 11.52 |
| Tue 3 Nov, PM | 10,870 | 940.31 | LBMA PM 3,936.65 | 11.56 |
| Wed 4 Nov, AM | 11,166 | 965.92 | LBMA AM 4,043.65 | 11.56 |
| Fri 6 Nov, PM (weekly close) | 11,182 | 967.30 | LBMA PM 4,049.60 | 11.56 |
What moved gold
- A strong week after the US midterms. World gold climbed back above US$4,000 an ounce on Wednesday as the dollar weakened after the US midterm elections (our Mid-Week report). By Friday morning spot gold was up about 5% for the week, on track for its biggest weekly gain in more than two months (Reuters, via EconoTimes).
- Friday: a small pullback. Spot gold was US$4,076.91 an ounce at 09:28 GMT, down 0.3% on the day, as investors waited for the US October jobs report (Reuters, via EconoTimes). The London afternoon benchmark later set at US$4,049.60 (via GoldBod).
- Interest rates remain the brake. US Federal Reserve officials have backed gradual rate increases; higher rates make non-yielding gold less attractive to hold (Reuters, via EconoTimes). Softer oil prices eased inflation worries during the week (Panthere Group).
What it means in Ghana
A small-scale miner or aggregator selling one pound of gold to a licensed buyer on Friday afternoon is due GH₵11,182 under GoldBod’s mandatory price, GH₵298 more than at Monday’s open. Almost all of that gain came from the world price rather than the cedi, which was steady against the dollar all week at GoldBod’s reference rate. Because the price is fixed twice a day from London, a big move overseas reaches Ghanaian sellers at the next window, as Wednesday’s 10:30 AM jump showed.
What to watch
- The US October jobs report and what it means for the Fed’s December rate decision: a stronger labour market would add to the case for higher rates, which tends to weigh on gold.
- The cedi: GoldBod’s reference rate has held at GH₵11.56 per dollar since Tuesday. Any move feeds straight into the cedi price.
- Our next report: the Weekly Open on Monday 9 November, after GoldBod’s 10:30 AM price.
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About these prices: since 1 July 2026, GoldBod’s published prices are the mandatory official purchase prices for licensed buyers and aggregators in Ghana (GoldBod). GoldBod sets two prices each trading day, an AM price from the LBMA morning benchmark and a PM price from the afternoon benchmark. Prices are quoted per pound, the unit used in Ghana’s small-scale trade. Information only, not investment advice.
