Why Gold Fever Is Sweeping Ghana Right Now

The demand for gold in Ghana is significantly increasing as of June 2025 as a result of both domestic policy actions and global market forces.

Currently trading at about $3,258 per ounce, gold prices have risen to previously unheard-of heights. Gold’s attractiveness as a safe-haven asset in the face of global economic uncertainty, such as trade disputes and waning trust in the US currency, is credited with this spike.

To profit from the rising gold market, the Ghanaian government has taken a number of actions.

One of them is the Ghana Gold Board (GoldBod), a regulatory organization that monitors the gold sector with the goal of formalizing small-scale mining and boosting state coffers.

Since GoldBod is now the only company permitted to buy, test, and export artisanal gold, smuggling has decreased and official gold exports have increased.

There is also a Gold Purchase Agreement option. In an effort to stabilize the cedi and increase national reserves, the agreements with nine more mining companies now mandate that they sell the government 20% of their gold production.

The country’s gold reserves have increased, going from 8.78 tonnes in May 2023 to 31.37 tonnes by April 2025 thanks to a major boost from the Bank of Ghana. Stabilizing the national currency and bolstering foreign reserves are the goals of this approach.

To further formalize the industry and boost export volumes, the government gave GoldBod $279 million in the 2025 budget to buy and export at least three tonnes of gold per week from small-scale miners.

Ghana’s Gold Export Revenue Now Hits $2.7 Billion

Record-breaking gold exports have resulted from these efforts; in April 2025 alone, gold export earnings approached $900 million. In 2024, gold made up 57% of Ghana’s entire export earnings, greatly increasing the country’s trade surplus and drawing in foreign capital.

High international pricing and aggressive domestic regulations meant to optimize the financial gains from the gold sector are the main causes of Ghana’s recent spike in demand for the metal.

Overall, Ghana’s gold production and demand have doubled recently due to a mix of proactive government measures and favorable global gold prices.