Current Value of Ghana's Gold Reserves as of Mid-July - Bank of Ghana

Gold has asserted its dominance as the world’s premier safe-haven asset in mid-2025, with prices climbing to $97,500 per kilogram—or $97.5 million per tonne—on the back of central bank buying, lower interest rates, and global economic uncertainty. The Bank of Ghana’s 32.99-tonne reserve, now valued at $3.217 billion USD (₵33.3 billion GHS), reflects the strategic weight of bullion in shaping fiscal resilience.

The price surge, pegged at $3,035 per troy ounce, marks one of the highest points in gold’s trading history. Analysts attribute the upswing to:

1.Geopolitical tensions from Eastern Europe to the Middle East

2.A wave of central bank accumulation, led by China, India, and Ghana

3.Declining interest rates boosting demand for non-yielding assets

4.Growing volatility across equities, bonds, and crypto markets

The result: a 22% year-on-year rise, lifting the value of gold past inflation curves and currency fluctuations.

Ghana’s Gold Reserve Strategy

Since launching the Gold Purchasing Scheme, Ghana has grown its reserve from 8.78 tonnes in May 2023 to 32.99 tonnes by mid-2025, with over 66% sourced via the initiative spearheaded by former Vice President Dr. Mahamudu Bawumia. The current administation has added 2.45 tonnes to the reserve since taking up office. The reserves not only strengthen Ghana’s foreign exchange position but also hedge against external debt pressures and cedi volatility.

Globally, central banks are boosting gold holdings more aggressively than at any point in the past 20 years. For Ghana, this means:

1.Enhanced import cover and financial stability

2.A possible buffer against future external shocks

3.Increased investor confidence as reserves provide resource-backed credibility

With analysts predicting a test of $3,200/oz if interest rates decline further, Ghana’s holdings stand to grow in both strategic and financial clout.