1oz BoG Gold Coin Ends January at GHS 44,507
The larger denomination of the Bank of Ghana’s Gold Coins – 1oz – ended the month of January at the value of GHS 44,507.
The increase in the cedi price of the gold coin was the result of an increase in the price of bullion on the global market coupled with a marginal depreciation in the local currency.
The other smaller denominations of the BoG Gold Coin – 0.5oz and 0.25oz – also ended the month with higher prices at GHS 22,665 and GHS 11,774 respectively.
The price of gold on the London Bullion Market Association (LBMA) stood at $2,787 per ounce – at an exchange rate of GHS 15.30 – as of January 31, 2025, indicating robust demand for the precious metal.
The Ghana Gold Coin (GGC) initiative offers the public an alternative investment channel.
It is part of the BoG’s domestic gold programme aimed at absorbing excess market liquidity and strengthening the Cedi.
