Buy Gold from Refineries, Not Through Them

There are several gold refineries in Ghana, mostly located in Accra, the capital city, with a few in other regions.

Even though gold is not mined in Accra, many refineries operate there because it is the main business hub. This has created a wrong impression among buyers who think they can buy gold through a refinery instead of from a refinery.

Understanding the Mistake Many Buyers Make

Many gold buyers misunderstand how things work. They assume that they can ask a seller to bring gold to a refinery and get it at a cheaper price. But here’s the truth—refineries themselves are gold buyers! No seller will bring gold to a refinery and sell it to you at a lower price when they know the refinery will pay more.

Some buyers position themselves at a refinery, thinking sellers will bring gold to them. But experienced sellers know that the refinery offers a better deal, so why would they sell to an individual at a lower price? If a seller is willing to sell gold at a lower price than the refinery, something is wrong somewhere—it’s either a scam, or the gold is not real.

How to Safely Buy Gold from a Refinery

1. Buy directly from the refinery – If you want guaranteed purity and safety, buy from the refinery itself instead of dealing with middlemen.
2. Be careful with sellers offering "cheaper" prices – If a seller is willing to sell gold to you at a lower price than what the refinery pays, be suspicious.
3. Watch out for gold switching scams – Some sellers bring real gold for testing at the refinery, but after testing, they swap it for fake gold before handing it to the buyer.
4. Never let the gold leave the refinery after testing – Once the gold is tested at the refinery, complete the transaction immediately. Do not allow the seller to take the gold outside before making payment.
5. Involve the refinery in the transaction – If you are serious about buying gold, let the refinery handle the deal. This ensures the gold is real, the transaction is legal, and you don’t lose your money.

Final Advice

If you are buying gold in Ghana, go through the right process. Many scams happen because buyers do not understand how the gold market works. If you want to buy gold at a refinery, deal directly with them and avoid unnecessary risks.