Gold rose to $3,642.37 per ounce on September 12, 2025, up 0.29% from the previous day, extending a strong rally in recent weeks. Over the past month, the metal has gained 8.52%, while prices are up 41.26% compared to the same time last year.
Gold reached an all-time high of $3,675.22 in September 2025, highlighting the strength of the current rally.
The upward momentum comes as investors weigh expectations of looser US monetary policy against rising geopolitical risks. Recent US data showed annual inflation remained steady, following a surprise drop in producer prices.
Reports indicate that Jobless claims also climbed to a four-year high, underscoring ongoing weakness in the labor market. Markets are increasingly pricing in a 25-basis-point rate cut at the Federal Reserve’s upcoming meeting, with speculation growing about a larger adjustment.
Gold has also drawn safe-haven support amid global tensions. The US is reportedly urging G7 allies to impose higher tariffs on India and China for Russian crude purchases. Conflict in the Middle East has intensified, and Poland said it intercepted Russian drones over western Ukraine.
For Ghana, rising international gold prices carry significant economic implications. Gold accounts for roughly 40% of the country’s total merchandise exports, meaning higher prices could boost revenues for large-scale and small-scale miners and increase government earnings from royalties and taxes.
However, not all miners may benefit equally, as rising operational costs, including energy, equipment, and regulatory compliance, could offset some gains.
Notwithstanding these challenges, the sustained rally underscores gold’s appeal as a safe-haven commodity and positions Ghana to benefit from international market trends, even as the domestic mining sector navigates cost pressures and operational hurdles.
