Ghana Becomes Africa’s Largest Gold Producer, Ranks 5th In Global Production.

As of the end of October 2024, the Bank of Ghana’s gold reserves were 28.1 tonnes, up 19 tonnes from the previous year’s reserve of 9 tonnes.

According to data released by the World Gold Council (WGC), Ghana’s gold reserves amount to 28.1 tonnes, which accounts for 41.2% of its total worldwide reserves.

According to its gold reserves, Ghana is the fifth-largest gold-holding country in Africa, after South Africa (125.4 tonnes), Egypt (126.8 tonnes), Libya (146.7 tonnes), and Algeria (173.6 tonnes).

The largest gold reserves on the continent are found in Algeria.

Ghana has the 60th-largest gold reserves in the world.

According to information provided by the Bank of Ghana, its current gold reserves are at 28th. Since May 2023, when the nation’s gold reserves were just under 9t, they have risen gradually. The WGC stated, “Ghana added an additional 1t during the month.”

Around the world, central banks own 36,320 tons of gold, which accounts for 18.9% of global reserves.

With 8,133 tonnes, or 74.9% of its total reserves, the United States of America has the largest gold reserves.

With gold reserves of 2,814 and 3,351 tonnes, respectively, the IMF and Germany come next.

The WGC reports that central banks reported the largest quantity of gold net purchases of the year, 60 tonnes, in October.

Leading the race with 27 tonnes of gold added to its reserves was the Reserve Bank of India (RBI), followed by Poland with 8 tonnes and Turkey with 17 tonnes.