Gold reserves hit 32.99 tonnes in June, fourfold surge since 2023 – BoG

Ghana’s gold reserves have surged to 32.99 tonnes as of June 2025, reflecting a sustained upward trajectory in the Bank of Ghana’s strategic effort to bolster financial stability and diversify foreign reserves.

According to new data released by the central bank, the latest figure represents a significant jump from 31.37 tonnes in April and 32.16 tonnes in May. It also marks a nearly fourfold increase from the 8.78 tonnes recorded in May 2023.

The consistent rise highlights the Bank of Ghana’s deliberate push to deepen its gold holdings, part of a broader plan to reduce the country’s reliance on traditional foreign currencies such as the U.S. dollar.

As Africa’s leading gold producer, Ghana has stepped up its formalisation of the small-scale mining sector to ensure more domestically produced gold is retained for national development.

The Bank of Ghana’s gold accumulation drive mirrors a global shift, as central banks worldwide increasingly adopt gold as a safeguard against currency instability and geopolitical risk