A licensed gold trader, Benjamin Atta Antwi, has described the delay in the release of daily trading price gold by the Ghana Gold Board (COLDBOD) as a major challenge confronting gold buying.
He says releasing the price early morning will enable traders buy more gold.
Mr. Atta Antwi who is a member of the Chamber of License Gold Buyers and CEO of Jamin Gold Enterprise in the Atwima Nwabiagya North District, said the late release of prices deter most stakeholders from selling their gold to licensed gold buyers.
“At least the authorities of Goldbod should release the price around 6am every day, and it will help us, the license buyers, to buy more gold from the stakeholders to support the government, but at times the price comes as late as 12pm, by which time most stakeholders have smuggled it,” he said.
Mr. Antwi said aside from the delay in price, Goldbod is a positive initiative supporting the economic benefits of the country.
He said before the establishment of Goldbod, most of the gold bars were being smuggled, but now it has reduced drastically.
“The Goldbod initiative has also helped us, the buyers, to support the miners with loans when they are in need of financial support, but it was not done previously,” he added.
He urged his other gold buyers to be truthful to gain the trust of stakeholders.
“Most of the stakeholders have a negative perception of us, the buyers, stealing from them when they bring their gold to scale; that shouldn’t be the case. Let’s open up to them to trust us,” he stated.
Source: Joseph Obeng
