Ghana has secured its position among the world’s official gold reserve holders, ranking 63rd globally with 31.7 tonnes of gold reserves as of April 2025, according to the latest data published in the International Financial Statistics, June 2025 edition.
While Ghana’s absolute holdings remain modest compared to major global economies, its gold reserves make up a significant portion of its overall external reserves. The data shows that 48.6% of Ghana’s total foreign exchange reserves are held in gold, a relatively high ratio by international standards and a clear signal of the country’s strategic reliance on gold as a store of value.
Globally, the United States leads the rankings with 8,133.5 tonnes of gold, representing 78.6% of its total reserves, followed by Germany with 3,381.1 tonnes (78.0%) and Italy with 2,451.8 tonnes (74.9%). Among emerging markets, countries like Russia (2,339.6t), China (2,262.4t), and India (822.1t) have steadily expanded their holdings in recent years as gold’s role in global reserve portfolios continues to strengthen.
In Africa, Ghana’s holdings place it within the top five gold-reserve-holding countries on the continent. Algeria leads the African continent with 173.6 tonnes, followed by Libya (146.7t), Egypt (125.6t), and South Africa (125.4t). Ghana follows, ahead of Nigeria (21.5t) and Morocco (22.1t). This reflects Ghana’s growing emphasis on gold not only as a major export commodity but also as a key component of its official reserves.
The growing share of gold in Ghana’s reserves comes at a time when global central banks are increasingly turning to gold as a hedge against geopolitical uncertainty, inflation, and financial system risks.
The World Gold Council’s 2025 survey shows record levels of central bank gold purchases, driven largely by emerging market and developing economies seeking diversification away from traditional reserve currencies.
For Ghana, which remains Africa’s top gold producer, the sizeable share of gold within its reserves reflects both the country’s exposure to the global gold market and its attempt to anchor financial stability on an asset with no default risk.
With global gold prices recently surpassing $3,300 per ounce, the value of Ghana’s official gold holdings continues to rise.
-thehighstreetjournal.com
