Bullion price dip drives reduction in BoG gold coin prices

The Bank of Ghana (BoG) has reduced prices for its Gold Coin due to a decline in global gold prices, marking the third consecutive price drop in Cedi terms.

By December 19, 2024, gold prices on the London Bullion Market Association (LBMA) fell to $2,592.05 from the previous week’s $2,684.35.

Consequently, BoG’s 0.25oz, 0.50oz, and 1oz gold coins now cost GHS 10,617, GHS 20,371, and GHS 39,937, down from GHS 10,933, GHS 21,004, and GHS 41,206, respectively, based on an exchange rate of $1 to GHS 14.70.

Gold prices showed a modest recovery, supported by easing U.S. inflation data, although the Federal Reserve’s hawkish stance led to a weekly loss. The price reduction could spur investor interest but highlights the coins' sensitivity to market and currency shifts.