Gold prices have surged past the $3,500 per ounce level on September 2, 2025, marking a historic high.
The hike has been linked to boosted investor optimism following expectations of a possible US Federal Reserve interest rate cut.
According to Reuters, spot gold was steady at $3,475.33 per ounce as of 0756 GMT, after briefly climbing to an all-time high of $3,508.50 earlier in the session.
US gold futures for December delivery also jumped 1.2% to $3,557.80.
GoldBod introduces GH¢832 bonus per pound to motivate licensed miners
Gold prices have had a remarkable run this year, with prices already up 32% in 2025, boosting Ghana, a key exporter of gold’s reserves, in the last 8 months.
Gold had gained 27% in 2024, breaking the $3,000 per ounce threshold in March as uncertainty around U.S. President Donald Trump’s trade policies triggered a rush into the asset.
“Investors are positioning themselves ahead of what looks increasingly like a Fed policy pivot. The momentum we are seeing in gold is directly tied to expectations of lower rates and ongoing geopolitical uncertainty,” a commodities analyst told Reuters.
BoG updates gold coin prices as demand grows
Meanwhile, the Ghana Gold Board (GoldBod) announced a special temporary bonus of GH¢832 per pound of gold for all licensed miners across the country, effective Wednesday, August 27, 2025.
The move raises the price of a pound of gold from GH¢8,868 to GH¢9,700.
According to GoldBod, the measure is aimed at motivating licensed miners and tackling gold smuggling.
“This novelty is in response to legitimate complaints from licensed miners about the significant reduction in the local price of gold in the last few months due to the continuous appreciation of the Ghana cedi,” the board said in a statement released to GhanaWeb Business.
GoldBod stressed that the special bonus will protect miners from unintended losses caused by the stronger cedi, despite their contributions to Ghana’s record gold output and foreign exchange earnings.
“The GoldBod has adequately resourced and directed its licensed traders nationwide to ensure the prompt payment of this special bonus to all licensed miners who sell their gold to the GoldBod,” the statement, signed by Media Relations Officer Prince Kwame Minkah, added.
SSD/MA
