‘You can’t sit here and determine the price of gold’ – Wontumi slams government over strict gold laws

The Ashanti Regional chairman of the main opposition New Patriotic Party, Bernard Antwi Boasiako, also known as Chairman Wontumi, has launched a scathing attack on the government, accusing it of implementing draconian laws on gold purchase.

He noted that under the previous administration, a pound of gold was sold for GH$13,000.00, whereas the current administration has reduced the price to GH$8,000.00.

According to Chairman Wontumi, the NPP government made flexible arrangements which allowed the local miners to thrive, adding that “gold is the only commodity whose price is determined by the international market”.

He made these remarks during an assessment of the current administration’s performance, led by President John Dramani Mahama, who returned to the presidency after winning the 2024 elections.

He added that the government’s harsh laws on gold purchasing have further exacerbated the plight of local miners, saying “nobody can sit in Ghana and determine the gold price for the miner”.

Chairman Wontumi alleged that, despite the government’s policy to purchase gold at a reduced price, the prices of equipment used for mining have skyrocketed.

Chairman Wontumi criticised President Mahama’s policy to regulate the prices of gold, stressing that it will likely hurt the NDC’s political fortunes in the next general elections in 2028.