Ghana’s gold reserves surge ahead of July MPC meeting

Ghana’s gold holdings have soared to a record 32.99 tonnes as of June 2025, according to the latest reserves report released by the Bank of Ghana to the Ghana News Agency on Friday.  

This marks a sharp rise from the 8.78 tonnes recorded in May 2023, underscoring a strategic build-up of the country’s monetary reserves amid persistent global economic uncertainties.  

The most notable growth occurred between July and December 2023, with reserves climbing from 11.32 tonnes to 19.50 tonnes. The accumulation trend continued through mid-2024, reaching 24.47 tonnes, and further accelerated to 31.37 tonnes by May 2025.  

This upward trajectory places Ghana among the leading African economies using gold accumulation as a hedge against currency volatility and external shocks.  

Analysts view the reserve expansion as a deliberate move by the central bank to reinforce investor confidence, strengthen fiscal buffers, and enhance the stability of the cedi.  

The announcement comes ahead of the 125th regular meetings of the Bank of Ghana’s Monetary Policy Committee (MPC), scheduled for July 21–23, 2025. The MPC will review recent macroeconomic trends and announce its policy decisions during a post-meeting press briefing.  

Market watchers anticipate that the impressive reserve figures will influence the Committee’s policy stance, especially in managing inflation and exchange rate stability.  

As central banks worldwide increase their gold holdings in response to rising geopolitical and financial risks, Ghana’s strategy signals a pivot toward long-term economic resilience and monetary autonomy.  

Further insights on how the gold reserves integrate into broader macroeconomic policy are expected during the upcoming MPC announcement.  

Source: GNA  

The post Ghana’s gold reserves surge ahead of July MPC meeting appeared first on Ghana Business News.

Read Full Story