Bank of Ghana expands gold reserves amid global economic volatility

The Bank of Ghana (BoG) increased its gold reserves by 0.59 tonnes between April and May 2025, bringing the country’s total holdings to 32.16 tonnes as of 30 May 2025.

This follows efforts by the Bank of Ghana and the Government of Ghana to reinforce financial resilience and safeguard the economy against global economic uncertainties.

A BoG report said the steady accumulation underscored the central bank’s commitment to strengthening its balance sheet and enhancing economic stability.

Though the April to May addition of 0.59 tonnes appears modest, it reflects a consistent, long-term effort, particularly following the establishment of the Gold Board.

Ghana’s gold reserves have risen significantly, from 8.78 tonnes in May 2023 to 32.16 tonnes today.

According to Finance Minister Dr Cassiel Ato Forson, the Gold Board exported GHS40 billion worth of gold from Artisanal Small-Scale Miners, further supporting national economic goals.

Central banks worldwide are increasing gold purchases to diversify their reserves, with over 35,000 metric tonnes of gold now held globally—roughly one-fifth of all gold ever mined.

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