Ghana is well known for its history in gold mining in the African continent. The country is currently Africa’s largest gold producer of the precious metal following an improved performance in 2022 after a significant production downswing in 2021. Total gold produced in Ghana increased by 32% year-on-year to 3.72 million ounces from 2.82 million […]
Ghana’s Central Bank Gold Reserve jump from 8 tonnes to 14 tonnes
Ghana’s central bank gold reserve has increased from 8 tonnes to 14 tonnes in 18 months. This was disclosed by the President of Ghana, H.E. Nana Akuffo Addo and Governor of the Bank of Ghana, Dr. Ernest Addison in two separate events. The increase in the central bank gold reserve has been attributed to the […]
Central Bank Gold Demand Rose in Early 2023; Stockpiling of the Metal in some BRICS Countries on the Rise
Central banks across the world are major buyers of gold apart from private investors and jewelry consumers. They are currently a major source of global gold demand. Between 1992 and 2022, central banks have moved from selling gold to become stockpilers of the commodity. In the 1990s and early 2000s, central banks were net sellers […]
Government of Ghana intends to barter sustainably mined Gold for imported Oil Products
Government of Ghana intends to barter sustainably mined Gold for imported Oil Products On the back of the growing economic challenges, spiraling inflation, depreciation in the value of the cedi against the US dollar, and dwindling foreign exchange reserves, the government of Ghana has hinted a policy strategy to barter gold for imported oil products. […]