The Bank of Ghana (BoG) has officially launched the Ghana Gold Coin (GGC), a new gold-backed financial instrument designed to offer diverse investment options for Ghanaians while strengthening the local currency.
Effective from November 26, 2024, the GGC is available in three denominations:
- 1.00 oz priced at GH₵45,020.48
- 0.50 oz priced at GH₵22,409.74
- 0.25 oz priced at GH₵11,188.12
The value of the Ghana Gold Coin is pegged to the London Bullion Market Association (LBMA) PM gold price, which was $2,635.40 as of the previous day. The Bloomberg USD to GHS exchange rate of 15.7500 is also factored into the pricing.
This new initiative is part of the Bank of Ghana’s broader domestic gold program, which aims to absorb excess liquidity in the market and bolster the stability of the Ghanaian cedi. By promoting investment in the country’s gold reserves, the Bank hopes to contribute to long-term economic stability and wealth creation for Ghanaians.
The Ghana Gold Coin is a significant step in reinforcing the role of gold in Ghana’s economic framework. It aligns with BoG’s commitment to innovative financial solutions and a more stable economic environment.
