The Bank of Ghana (BoG) has reported a significant increase in its gold reserves, which reached 38.04 tonnes at the end of October 2025, according to the central bank’s latest market data released on November 5, 2025.

This marks a 35% year-on-year increase compared to the 28.1 tonnes recorded in October 2024. The data further shows that the BoG’s total gold holdings stood at 30.53 tonnes in December 2024, meaning that approximately 7.51 tonnes were added between January and October 2025.

The central bank attributed the growth in reserves to its ongoing Domestic Gold Purchase Programme (DGPP), which enables the BoG to acquire gold directly from licensed local mining companies.

Launched in 2011, the programme is designed to strengthen Ghana’s external reserves and diversify the composition of the central bank’s assets.

According to the BoG, the expansion of its gold holdings also supports broader efforts to reduce Ghana’s dependence on the US dollar and enhance the stability of the national currency.

The increase underscores the central bank’s continued push to leverage the country’s gold resources as a strategic tool for macroeconomic stability and financial resilience.