Ghana’s Gold reserves hit 31.01 tonnes; triple in two years

The Bank of Ghana's gold reserves reached 31.01 tonnes on March 31, 2025. This increase reflects a strategy to strengthen foreign reserves and monetary stability.

The reserves rose from 30.81 tonnes at the end of February 2025. This growth trend has continued for two years now.

Since May 2023, gold holdings have more than tripled from 8.78 tonnes. This shift highlights Ghana's position as a major gold producer.

The domestic gold purchase program plays a key role in this build-up. The Central Bank launched the program to grow foreign exchange reserves.

This initiative aims to enhance currency stability and attract foreign investments. It also seeks to promote economic growth in the country.

Additionally, the program allows the Bank to leverage its gold holdings. This can help raise cheaper financing sources for short-term liquidity.

Accumulating gold is part of broader efforts to diversify reserve assets. Analysts believe stronger gold reserves can improve balance of payments resilience.

They can also cushion external shocks and reinforce monetary policy credibility during tightening global financial conditions.