Ghana shines as gold hits record high amid global rush
AS gold soared to an unprecedented $4,000 per ounce on October 1, 2025, global investors flocked to the metal as a safe haven against financial and geopolitical turbulence.
While the United States (US) government’s first shutdown in nearly seven years shook investor confidence, ongoing conflicts and new trade tariffs further accelerated demand. Yet among the world’s top ten gold buyers this year, one African nation stands out: Ghana. The West African country, already Africa’s largest gold producer, purchased 3.9 tonnes of gold between January and July 2025, according to new analysis from BestBrokers based on World Gold Council data.
Ghana is the only African nation to feature on the global top ten list, alongside heavyweights such as Poland, China and India. Analysts say the move underscores Accra’s strategic ambition to strengthen its reserves while stabilising its currency.
“Central banks’ gold strategies in 2025 highlight a deeper shift in global reserves management,” BestBrokers noted. “The fact that Ghana is consolidating its position at a time of record-high prices reflects long-term thinking. Gold is increasingly viewed not just as a tradeable asset, but as a shield against currency volatility and external shocks.”
Economists point to Ghana’s dual role as both a major exporter and a cautious defender of its financial stability. With the cedi under pressure and global investors jittery, gold provides a credible hedge. “By strengthening its reserves, Ghana is effectively buffering itself against the instability of international markets,” said an Accra-based economist.
“It also signals confidence to international investors that Ghana is serious about financial resilience.” This positions Ghana differently from countries selling off gold reserves under liquidity pressures. Uzbekistan, Singapore and Russia all recorded significant net sales this year, in contrast to Ghana’s accumulation.
Globally, Poland emerged as the most aggressive buyer, adding 67.1 tonnes of gold in the first seven months of 2025, followed by Kazakhstan (24.7 tonnes) and China (20.8 tonnes). India, despite already holding 880 tonnes, also expanded reserves by 3.8 tonnes.
The U.S. continues to dominate global holdings, with 8,133 tonnes worth over $1 trillion. However, Switzerland still leads on a per-capita basis, owning nearly 116 grams of gold for each citizen.
“This year’s buying spree is not about speculation—it’s about sovereignty,” said BestBrokers. “Poland’s record purchases, China’s steady accumulation and Ghana’s entry into the global top ten demonstrate a shift: central banks are prioritising resilience over short-term costs.”
For Africa, Ghana’s place on the list carries symbolic weight. While the continent produces a third of the world’s gold, few governments actively build significant reserves. Ghana’s approach could mark the start of a wider trend where African nations look to gold not just as an export commodity, but as a cornerstone of financial security.
“As global markets reel from uncertainty, Ghana is showing that Africa can play a smarter game with its own resources,” said a Johannesburg-based commodities analyst. “The continent may well start to follow suit.”
With gold prices at record highs and geopolitical uncertainty unlikely to fade soon, Ghana’s decision may prove prescient—both for its economy and for Africa’s standing in global finance.
Source: https://www.cajnewsafrica.com/