As of the end of September 2025, gold reserves held by the Bank of Ghana (BoG) reached a record high of 37.06 tonnes.
According to BoG data, the reserves have risen sharply from under nine tonnes in May 2023, marking a significant increase over the past two years.
The Bank noted that accumulation began in mid-2024, with monthly purchases averaging more than one tonne.
Meanwhile, global gold prices surged to a historic high of $4,000 per ounce on October 7, 2025, for the first time in history.
Gold price hits all time record surpassing $4,000 for the first time
Spot gold also set a fresh record at $3,991 per ounce, driven by expectations of US interest rate cuts and heightened geopolitical tensions that boosted safe-haven demand.
The BoG’s aggressive gold accumulation reflects a strategic shift toward commodity-backed resilience, positioning Ghana’s reserves to better withstand future global financial shocks.
SP/MA
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