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Ghana’s Gold Reserves Hit 32.99 Tonnes in June 2025 as Central Bank Pushes Ahead with Reserve-Building Strategy

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Ghana's Gold Reserves Hit 32.99 Tonnes in June 2025 as Central Bank Pushes Ahead with Reserve-Building Strategy

(3 Minutes Read)

Ghana’s gold reserves have seen a consistent upward trend throughout 2025, reaching 32.99 tonnes by the end of June, according to the latest data from the Bank of Ghana (BoG). This marks a steady increase from the 32.16 tonnes recorded in May, highlighting the central bank’s ongoing efforts to fortify the country’s foreign exchange reserves.

Since the beginning of the year, Ghana’s gold holdings have expanded by 8.05%, rising from 30.53 tonnes in January 2025. The first slight uptick occurred on January 31, when reserves edged up to 30.62 tonnes, and have since grown incrementally each month.

The year-on-year increase is even more remarkable. In May 2023, Ghana’s reserves stood at a mere 8.78 tonnes, meaning the country has more than tripled its gold stockpile over the past 12 months. This surge has been instrumental in stabilising the Ghanaian cedi, restoring investor confidence, and strengthening the macroeconomic environment.

A major driver of this expansion is the BoG’s Domestic Gold Purchase Programme, a strategic policy initiative designed to enhance international reserves by purchasing gold directly from local producers. The programme aims to reduce Ghana’s exposure to global financial market volatility, strengthen the cedi, and minimise reliance on costly foreign loans.

In a previous statement, the central bank emphasised the long-term vision of the initiative:

“The gold accumulation programme is an essential tool in our efforts to diversify reserve assets, reduce exposure to global financial volatility, and provide the economy with more robust buffers against external shocks.”

Through this growing gold reserve strategy, the BoG aims to secure more affordable financing, boost short-term foreign exchange liquidity, and build greater economic resilience. The goal is clear: reduce the country’s dependence on expensive external debt markets while safeguarding Ghana’s economy from potential future shocks.

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In essence, Ghana is steadily turning its natural resources into a powerful financial shield, underpinning national stability through strategic asset diversification.