Bank of Ghana’s New Gold Coin Now Available to lnvestors; Prices Range from GHS 11,000 to GHS 45,000
The Bank of Ghana has launched the Ghana Gold Coin (GGC), offering the public an alternative avenue for investment while enhancing the country’s financial instruments portfolio.
Available from November 26, 2024, the coins are minted in three denominations: 1.00 oz, 0.50 oz, and 0.25 oz, priced at GH₵45,020.48, GH₵22,409.74, and GH₵11,188.12, respectively.
Pricing is benchmarked against the previous day’s London Bullion Market Association (LBMA) PM gold price of $2,635.40, converted using Bloomberg’s USD to GHS exchange rate of 15.7500.
The initiative is part of the central bank’s domestic gold programme, which aims to absorb excess market liquidity and strengthen the local currency amid persistent economic pressures.
By linking the Ghana Gold Coin to the country’s gold reserves, the Bank of Ghana seeks to bolster investor confidence and position the cedi against volatile global currencies.
Analysts see the move as a pragmatic step in leveraging Ghana’s gold assets to stabilize the broader economy.
The BoG stated that the programme underscores its commitment to innovative solutions for wealth preservation and economic resilience, aligning with global trends of gold as a hedge against inflation and currency depreciation.
Market observers will closely be watching the coin’s reception by investors as the central bank continues its efforts to manage liquidity and reinforce economic stability.
