The Bank of Ghana (BoG) has officially introduced the Ghana Gold Coin (GGC) as a new financial instrument to diversify investment options for the public.
As of November 26, 2024, the coins are available in three denominations: 1.00 oz, 0.50 oz, and 0.25 oz. Their prices are set at GH₵45,020.48, GH₵22,409.74, and GH₵11,188.12, respectively.
The pricing is based on the previous day’s London Bullion Market Association (LBMA) PM gold price, which stood at $2,635.40, and the Bloomberg USD to GHS exchange rate of 15.7500.
The BoG aims to offer the public an innovative investment avenue while bolstering the country’s financial instruments portfolio.
As part of the domestic gold programme, this initiative seeks to absorb excess liquidity in the market and strengthen the local currency against major trading currencies.
This strategic move aligns with the Bank of Ghana’s efforts to stabilise the economy and promote investment in Ghana’s gold reserve.
Source TheDotNews