Bank of Ghana Makes Biggest Monthly Gold Reserve Gain in June 2025 with 0.83-Tonne Surge

The Bank of Ghana (BoG) added 0.83 tonnes of gold to its holdings in June 2025, marking the biggest single-month increase in the year.

According to newly released central bank data, the country’s official gold reserves now stand at 32.99 tonnes, cementing Ghana’s place among the top gold-reserve-building economies in sub-Saharan Africa.

The June surge follows a 0.79-tonne rise in May, making this the second consecutive month of strong accumulation and reflecting growing momentum under the central bank’s Gold for Reserves (G4R) strategy.

The Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama has been emphatic that operations of the Ghana Gold Board (GoldBod) will shore up the country’s reserve and perhaps the evidence revealing.

“We will be able to streamline the export of small-scale gold and optimistic that the Gold Board will take out those irregularities [in the small-scale gold sector]. And the effects will be to our reserves, which helps us to gain stability,”  He noted in an address.

Strategic Accumulation: A Two-Year Momentum

Since May 2023, the BoG has been steadily building its reserves, adding a total of 24.21 tonnes from an initial base of 8.78 tonnes. Key milestones during this period include:

20 tonnes surpassed in February 2024

30-tonne mark crossed in December 2024

Why It Matters: Diversification, Stability, Sovereignty

Analysts say the Bank’s sustained interest in gold reflects a calculated strategy to diversify reserves away from traditional dollar and euro holdings, which have faced increased volatility amid global rate adjustments and geopolitical tension.

The move also supports Ghana’s domestic gold purchasing programme, which aims to promote value retention, reduce forex pressure, and build reserve buffers for long-term macroeconomic stability.

Looking Ahead: Sustainability and Scaling

While the BoG has yet to officially outline its end-2025 target, insiders say the goal is to sustain monthly additions, especially as the central bank balances international obligations with local economic recovery efforts.

June’s 0.83-tonne rise not only sets a high-water mark for the year but also reinforces the central bank’s role as a stabiliser in uncertain times a signal closely watched by investors, rating agencies, and international partners alike.

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