Investors in Ghana Gold Coin see profits amid gold price surge
The 'Ghana Gold Coin' is being sold at all commercial banks in Ghana
Investors in the Ghana Gold Coin (GGC) have seen an appreciation in their holdings since its launch on November 26, 2024 by the Bank of Ghana, as global gold prices surge and exchange rate dynamics shift.
A comparison of prices between the launch date and February 11, 2025, shows a steady increase in the coin’s value. The one-ounce GGC, which debuted at GH¢45,020, has now climbed to GH¢46,671.17.
Similarly, the half-ounce and quarter-ounce coins have risen from GH¢22,409 and GH¢11,188.12 to GH¢23,748.65 and GH¢12,318, respectively.
Investors who purchased the GGC at launch have now gained over GH¢1,300 per ounce, benefiting from gold's upward trajectory on the market.
On November 24, 2024, the London Bullion Market Association (LBMA) PM gold price stood at $2,694.95, with the cedi-dollar exchange rate at GH¢15.8.
By February 11, 2025, gold prices surged to $2,874.65, while the cedi-dollar rate had adjusted to GH¢15.45.
The rising value of gold has since provided a cushion against currency fluctuations, reinforcing the GGC as an appealing investment for those seeking to hedge against currency depreciation while leveraging Ghana’s abundant gold resources.
Meanwhile, the new Mahama-led administration has established a technical committee to draft a legal framework for the Ghana Gold Board (GoldBod).
The government views this move as a crucial step in unlocking greater value from the gold sector and bolstering Ghana’s currency and position in the global commodity market.
MA
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