Statistics from the Bank of Ghana shows that global gold prices have climbed past $5,000 (£3,659) per ounce for the first time ever, extending a remarkable rally that saw the precious metal rise more than 60 per cent in 2025.
The surge carries significant implications for Ghana, Africa’s largest gold producer, whose economy relies heavily on the mineral for export earnings and foreign exchange.
However, on 26 January 2026, a fellow at the Africa policy lens, Dr Eric Boachie Yiadom warned on TV3’s Business Focus that “we should not focus so much on what the hike in gold price would bring us, but the downside of it and put in measures to correct it.”
He added that, “the government should focus on using the EXIM bank to support more indigenous producers to produce goods that meet international standard”, emphasizing the need of strategic investment and its implementation.
The lecturer at the University of Professional Studies Accra, mentioned that “government usually has fantastic ideas but when it comes to it implementation, that’s where we usually get it wrong.’’
Dr Boachie Yiadom further called for a more market-driven foreign exchange system, saying government participation of close to 40 per cent in the forex market was excessive and could distort market signals.
