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Ghana Reclaims Gold: Mining Deals Can Stabilize Economy with XAU Prices High
Ghana is doubling down on gold, signing new contracts with miners to enhance its strategic reserves and support its currency and economic...
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Last updated: Wednesday, June 4, 2025
Quick overview
- Ghana is enhancing its gold acquisition strategy by securing agreements with nine mining companies to purchase 20% of their gold output.
- The government aims to pay for gold in local currency to strengthen the Ghanaian cedi and reduce reliance on the U.S. dollar.
- Since the program's launch, Ghana's gold reserves have increased by over 250%, signaling confidence in gold as a buffer against economic volatility.
- The initiative also seeks to support small-scale miners and promote transparency in the domestic gold sector.
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Ghana is doubling down on gold, signing new contracts with miners to enhance its strategic reserves and support its currency and economic stability.
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Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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