Ghana’s Gold Reserves Hit 32.99 Tonnes in June, Quadrupling in Just One Year

Ghana’s gold reserves have soared to 32.99 tonnes as of June 2025, marking a significant milestone in the Bank of Ghana’s ongoing strategy to strengthen the country’s financial resilience and diversify its foreign reserves.

Fresh data from the central bank reveals a steady month-on-month increase — up from 31.37 tonnes in April and 32.16 tonnes in May. This growth represents a dramatic leap from the 8.78 tonnes recorded in May 2023, nearly quadrupling in just over a year.

The upward trend underscores the Bank of Ghana’s commitment to increasing its gold holdings as part of a broader move to reduce dependency on traditional foreign currencies, especially the U.S. dollar.

As the continent’s top gold producer, Ghana has also intensified efforts to formalise its small-scale mining sector. This initiative aims to retain more domestically mined gold for national use, supporting long-term economic development.

Ghana’s gold accumulation strategy aligns with a global trend among central banks, many of which are turning to gold as a hedge against currency volatility and rising geopolitical uncertainties.