Ghanaians who invested in the Ghana Gold Coin (GGC) at its launch on November 26, 2024, have seen an increase in its value, driven by fluctuations in global gold prices and exchange rate movements.
A price comparison between the launch date and February 11, 2025, reveals a notable appreciation in the coin’s cedi value. Currently, the one-ounce GGC is priced at GH₵46,671.17, up from GH₵45,020. The half-ounce and quarter-ounce coins have also risen in value, now trading at GH₵23,748.65 and GH₵12,318, respectively, compared to their initial prices of GH₵22,409 and GH₵11,188.12. Investors who purchased the GGC at launch have gained over GH₵1,300 per ounce, benefiting from the rising gold market.
On November 24, 2024, the London Bullion Market Association (LBMA) PM gold price stood at $2,694.95 per ounce, with the cedi-dollar exchange rate at 15.8. By February 11, 2025, gold had surged to $2,874.65, while the cedi-dollar rate adjusted to 15.45. The increase in gold prices has helped counterbalance exchange rate fluctuations, making the GGC an attractive option for investors seeking to hedge against currency depreciation and capitalize on Ghana’s gold reserves.
Meanwhile, the Mahama-led administration has inaugurated a technical committee tasked with drafting a legal framework for the establishment of the Ghana Gold Board (GoldBod). This strategic initiative aims to unlock greater value from Ghana’s gold sector and strengthen the country’s position in the global market.
