The prices of the Bank of Ghana’s gold coins declined marginally last week, reflecting the appreciation of the cedi.
The coins, available in 1oz, 0.5oz, and 0.25oz denominations, were priced at GHS 41,206, GHS 21,004, and GHS 10,933, down slightly from the previous week’s GHS 41,305, GHS 21,057, and GHS 10,964.
The decline followed a week-on-week cedi appreciation from GHS 14.90 to $1 to GHS 14.67 to $1. Prices are tied to the previous day’s London Bullion Market Association (LBMA) PM gold price, which was $2,684.35 as of December 13, 2024.
Part of the central bank’s domestic gold program, the initiative absorbs excess liquidity, strengthens the cedi, and aligns the gold coin with Ghana’s reserves to boost investor confidence amid economic pressures.
Source: Norvanreports