BoG: Gold crosses $3,000/ounce price, oil jumps 2.4%, cocoa tumbles 8.5%

Ghana's major export commodities had mixed results in early 2025. The Bank of Ghana reported this information recently.

Gold prices rose above US$3,000 per fine ounce on March 14, 2025. This increase was due to economic uncertainty from trade tensions and inflation. The weakening US dollar also contributed to the rise. Governor Johnson Asiama shared these details with journalists on March 28, 2025.

In February 2025, gold prices averaged US$2,897.3 per fine ounce. This reflects a year-on-year growth of 9.7 percent.

Crude oil prices saw a slight annual increase of 2.4 percent. They settled at an average price of US$74.95 per barrel.

Cocoa prices fell by 8.5 percent due to better supply forecasts for the current season.