Bank of Ghana Raises Large-Mine Gold Purchases to 30% Starting June 1

3 articles · Updated · Bloomberg · May 25

June 1 marks the start of Bank of Ghana purchases equal to 30% of output from the country’s large-scale gold producers, up from 20%.
Paul Bleboo, the central bank’s head of gold management, said the regulator has finalized negotiations with mining firms to implement the higher take.
The bank had been buying 20% of refined gold with cedis for its reserves; under the new arrangement, it will buy 30% of doré, or unrefined gold.
The move deepens Ghana’s use of domestically mined gold to build central-bank reserves in one of Africa’s top gold-producing economies.

Is Ghana's strategy to hoard gold a wise hedge against instability or a gamble that could deter investors?

With global trade routes under threat, can buying its own gold truly shield Ghana's economy from chaos?