The Bank of Ghana’s 1-ounce (oz) Gold Coin ended January 2025 at GH₵ 44,507.86, reflecting an increase influenced by rising global gold prices and slight fluctuations in the local currency.
The price increase was driven primarily by a surge in international bullion prices and a marginal depreciation of the cedi. However, the smaller denominations of the coin also saw gains, with the 0.5oz coin closing at GH₵ 22,665.10 and the 0.25oz coin at GH₵ 11,774.80.
In November 2024, the 1-ounce coin was traded at GH₵ 44,403.68 and was further traded at GH₵ 44,507.86 in January 2025, however, it saw a gain of GH₵ 104.18, which is a 0.23% increase.
Also in November 2024, the Half-ounce coin was traded at GH₵ 22,607.09, and in January 2025 at GH₵ 22,665.10, meaning it gained GH₵ 58.01, which is a 0.26% increase.
Nonetheless, the Quarter-ounce coin also in November 2024 was sold at GH₵ 11,740.88 and later sold in January 2025 at GH₵ 11,774.80, it also saw an increase of GH₵ 33.92, which is a 0.29% increase.
This means, that for Ghanaians who purchased the Ghana Gold Coin (GGC) at its launch on November 25, 2024, the past two months have yielded slight but steady returns.
A price comparison from launch day to the end of January shows a marginal appreciation in the cedi value of the coins, driven by shifts in both global gold prices and exchange rates.
Looking at the global market impacting prices, the fluctuation in coin prices mirrors movements in the international gold market. On November 24, 2024, the London Bullion Market Association (LBMA) PM gold price stood at $2,694.95, with the cedi trading at 15.8 to the US dollar. By January 30, 2025, gold prices had climbed to $2,787.25, while the cedi-dollar exchange rate appreciated slightly to 15.3.
This increase in global gold prices helped cushion the impact of currency fluctuations, resulting in modest gains for GGC holders.
Notably, gold recently reached an all-time high of $2,798, hinting at potential future gains for investors who view the GGC as a long-term store of value.
While the Ghana Gold Coin has not experienced dramatic price shifts, its steady appreciation underscores its stability as an investment option.
For potential investors, the coin offers a dynamic pricing mechanism, tied to both international gold prices and local exchange rates, ensuring it remains a responsive and resilient investment vehicle.
The GGC initiative is part of the Bank of Ghana’s broader domestic gold programme, aimed at absorbing excess market liquidity and reinforcing the strength of the cedi.
