Ghana holds 31.7 tonnes of gold reserves, ranking 63rd globally according to June 2025 International Financial Statistics data.
Gold constitutes 48.6% of Ghana’s total foreign exchange reserves, significantly above the international average and reflecting strategic reliance on the asset for value preservation.
The United States maintains the largest reserves (8,133.5 tonnes, 78.6% of reserves), followed by Germany (3,381.1 tonnes, 78.0%) and Italy (2,451.8 tonnes, 74.9%). Among emerging economies, Russia (2,339.6 tonnes), China (2,262.4 tonnes), and India (822.1 tonnes) have expanded holdings substantially.
In Africa, Ghana ranks fifth behind Algeria (173.6 tonnes), Libya (146.7 tonnes), Egypt (125.6 tonnes), and South Africa (125.4 tonnes), but ahead of Morocco (22.1 tonnes) and Nigeria (21.5 tonnes). This positions Ghana as Africa’s top gold producer with significant reserve allocation.
The World Gold Council’s 2025 survey confirms a global trend of central banks increasing gold holdings, particularly in emerging markets seeking diversification from traditional reserve currencies amid geopolitical uncertainty.
Gold prices exceeding $3,300 per ounce have increased the market value of Ghana’s reserves.
Ghana produced 3.7 million ounces of gold in 2024, maintaining its position as Africa’s largest gold producer per the Ghana Chamber of Mines.
