Has Ghana’s Gold Reserves Increased To $3.7 Billion At Current Record Price?
On September 6 2025, an X user @cecild84 claimed that Ghana’s gold reserves are now valued at $3.7 billion following gold’s record-high price of $3,600 per ounce. The claim was posted with an image of Sammy Gyamfi, who is the CEO of the Ghana Gold Board (GOLDBOD) and gold bar with the caption “🇧🇫 Ghana’s gold reserves are now valued at $3.7 billion following gold’s record-high price of $3,600 per ounce”.
As of when this report was published, the claim had over 8,000 views and about 800 replies, reposts, quotes, likes and bookmarks. In the comment section, @AkanAseserm said, “They should increase the rate of stocking gold reserves” and @Oke_Mmuo wrote “All these changes could happen cus they took over their gold mining from foreign companies shortchanging them”.
VERIFICATION
According to the Bank of Ghana, the country’s official gold reserves stood at about 25.97 tonnes in August 2024 and rose to 36.02 tonnes by August 2025, representing an increase of 38.7 percent.
Ghana’s gold holdings climbed from about 8.77 tonnes in 2022 to 30.8 tonnes by February 2025. In the first five months of 2025, Ghana exported 55.7 metric tonnes of gold, valued at $5 billion.
Gold prices peaked to $3,500 per ounce in April 2025, and by September 2025, gold was trading at $3,667. Ghana’s gross international reserves were estimated at $11.1 billion.
CONCLUSION
The claim that Ghana’s gold reserves are worth $3.7 billion at a gold price of $3,600 per ounce is MISLEADING. While gold prices crossed the $3,600 mark in September 2025, Ghana’s gold holdings currently amount to about 36 tonnes and are valued at closer to $4.2 billion, which is 13 percent higher than the claimed figure. Furthermore, Ghana’s broader international reserves stand at $11 billion, meaning the claim underestimates the true strength of the country’s gold position.
