Current Gold Prices in Ghana in USD
Gold Prices in Ghana: Gold has long been a cornerstone of Ghana’s economy, culture, and investment landscape. As one of Africa’s leading gold producers, Ghana’s gold market is influenced by global trends, local demand, currency fluctuations, and regulatory frameworks.
Current Gold Prices in Ghana
As of April 20, 2025, the gold market in Ghana reflects global price trends, adjusted for local currency (Ghanaian Cedi, GHS) and market dynamics.
Gold prices are primarily driven by international spot prices, which are quoted in US dollars per troy ounce and converted to GHS based on prevailing exchange rates.
The current exchange rate is approximately 1 USD = 15.50 GHS, though this fluctuates daily.
The price of gold per troy ounce (31.1035 grams) for 24K gold in Ghana is approximately 46,867.47 GHS, translating to 1,506.82 GHS per gram.
This represents the raw spot price, which may vary slightly depending on the seller, location (e.g., Accra or Kumasi), and additional costs such as commissions, taxes, or craftsmanship charges for jewelry.
Gold prices in Ghana have shown significant growth over the past year, with a year-on-year increase of approximately 61.27% per ounce, driven by global demand, inflation concerns, and geopolitical uncertainties.
The highest price recorded in the last year was 45,449 GHS per ounce on October 30, 2024, while the lowest was 24,079 GHS per ounce on January 17, 2024.
Gold Prices by Purity Levels in Ghana
Gold is traded in various purities, measured in karats (K), where 24K represents pure gold (99.9% purity), and lower karats indicate alloys mixed with other metals for durability or cost-effectiveness.
In Ghana, the most common karats are 24K, 22K, 18K, and 14K, with 22K being particularly popular for jewelry due to its balance of purity and strength.
Below is a detailed breakdown of gold prices for different purity levels in Ghana, based on the current market data.
Gold Price per Gram by Karat
The following table summarizes the price per gram for various gold purities in Ghanaian Cedis as of April 20, 2025:
| Karat | Purity (%) | Price per Gram (GHS) | Source |
| 24K | 99.9% | 1,506.82 | |
| 23K | 95.8% | 1,443.53 | Calculated* |
| 22K | 91.6% | 1,379.77 | |
| 21K | 87.5% | 1,317.37 | |
| 18K | 75.0% | 1,129.17 | |
| 14K | 58.3% | 878.68 | |
| 10K | 41.7% | 627.63 |
*Note: Prices for 23K are calculated based on the proportional purity relative to 24K, as direct quotes are less common. For example, 23K price = (23/24) × 24K price.
1 Carat Gold Price in Ghana Cedis:
The term “carat” in the context of gold is often confused with “karat.” For diamonds, 1 carat equals 0.2 grams, but for gold, “carat” typically refers to purity (karat). Assuming the query refers to 1 karat gold (1/24th pure gold, or 4.17% purity), the price per gram would be:
Price = (1/24) × 1,506.82 = 62.78 GHS per gram.
For 0.2 grams (diamond carat equivalent), the price would be 12.56 GHS.
If the query intends 1 gram of 24K gold, the price is 1,506.82 GHS.
10 Gram Gold Price in Ghana:For 24K gold, 10 grams = 10 × 1,506.82 = 14,974.67 GHS.
1 carat gold price today in ghana cedis (4.17% purity)
| Weight | Price (GHS) |
| 1 gram | 62.78 |
| 0.2 grams | 12.56 |
Gold Prices in Ghana – in US Dollars (USD)
Exchange Rate: 1 USD ≈ 13.00 GHS
1 Karat Gold (4.17% purity)
| Weight | Price (USD) |
| 1 gram | 4.83 |
| 0.2 grams | 0.97 |
24k gold price in Ghana today
| Weight | Price (USD) |
| 1 gram | 115.91 |
| 10 grams | 1,151.13 |
| 1 ounce | 3,605.96 |
| 1 kilogram | 115,909.23 |
23k gold price in Ghana today
| Weight | Price (USD) |
| 1 gram | 111.04 |
| 10 grams | 1,110.41 |
| 1 kilogram | 111,040.38 |
22 carat gold price today in Ghana
| Weight | Price (USD) |
| 1 gram | 106.14 |
| 10 grams | 1,061.36 |
| 1 kilogram | 106,136.92 |
18 karat gold price in Ghana
| Weight | Price (USD) |
| 1 gram | 86.09 |
| 10 grams | 868.59 |
| 1 kilogram | 86,090.77 |
These prices are raw spot rates and may increase by 5–15% when purchasing jewelry due to making charges, taxes, or dealer margins.
Black Market Gold Price in Ghana
The black market for gold in Ghana is a significant, albeit controversial, segment of the industry. Ghana’s gold sector includes both large-scale mining operations and artisanal small-scale mining (ASM), locally known as galamsey.
While licensed dealers and the Precious Minerals Marketing Company (PMMC) regulate official transactions, illegal mining and trading persist, particularly in rural mining communities.
Characteristics of the Black Market
Source: Black market gold often comes from unlicensed small-scale miners who bypass PMMC regulations. This gold may be sold as nuggets, dust, or unrefined bars with varying purities (typically 80–95%).
Pricing: Black market gold is generally cheaper than official market prices due to the absence of taxes, export duties, and regulatory compliance costs. However, prices are highly variable and depend on the buyer’s negotiation skills, the purity of the gold, and the risk of illegal transactions.
Estimated Prices: Based on anecdotal reports and market insights, black market 22K gold may sell at a 10–20% discount compared to official prices.
For instance, while 22K gold is 1,379.77 GHS per gram in the formal market, black market prices could range from 1,100–1,250 GHS per gram for similar purity, though purity verification is a challenge.
Risks: Buying black market gold carries significant risks, including:
Legal Consequences: Unlicensed trading is illegal, and buyers risk prosecution or confiscation.
Counterfeit Gold: Without proper assaying, buyers may receive gold with lower purity or fake materials.
Lack of Documentation: Black market transactions rarely provide receipts or certificates, complicating resale or export.
Why the Black Market Thrives
High Demand: Global demand for gold encourages informal trading channels, especially for small-scale miners seeking quick cash.
Economic Pressures: Poverty and limited access to formal markets push miners to sell to middlemen at lower prices.
Regulatory Gaps: Despite efforts by the Ghanaian government to curb galamsey, enforcement remains challenging in remote areas.
Consumers are advised to purchase gold only from PMMC-licensed dealers or reputable jewelers to ensure authenticity and compliance with regulations.
Gold Price Comparison: Ghana vs. Other Top Gold-Producing African Countries
Ghana is Africa’s second-largest gold producer, behind South Africa, with other key players including Mali, Burkina Faso, and Sudan.
Gold prices across these countries are influenced by global spot prices, but local factors such as currency strength, taxes, and production costs create variations.
To determine whether gold in Ghana is cheaper, we compare the price of 24K gold per gram in Ghana with these countries, converted to GHS for consistency.
Comparison Table: 24K Gold Price per Gram (April 2025)
| Country | Local Currency | Price/Gram (Local) | Price/Gram (GHS) | Price/Gram (USD) |
| Ghana | GHS | 1,506.82 | 1,506.82 | 115.91 |
| South Africa | ZAR | 1,450.00 (est.) | 1,595.00 | 122.69 |
| Mali | XOF | 47,000 (est.) | 1,410.00 | 108.46 |
| Burkina Faso | XOF | 48,000 (est.) | 1,440.00 | 110.77 |
| Sudan | SDG | 120,000 (est.) | 1,860.00 | 143.08 |
*Note: Prices for South Africa, Mali, Burkina Faso, and Sudan are estimated based on global spot prices ($3,230.50 per ounce) and approximate exchange rates (e.g., 1 USD = 18.50 ZAR, 1 USD = 600 XOF, 1 USD = 650 SDG). Local taxes, duties, or premiums may increase actual prices. Ghana’s prices are directly sourced.
Analysis
Ghana vs. South Africa: Gold in Ghana is slightly cheaper (1,506.82 GHS vs. 1,595.00 GHS) due to South Africa’s stronger currency (ZAR) and higher domestic taxes. However, South Africa’s larger market and refining capacity may offer more competitive prices for bulk purchases.
Ghana vs. Mali and Burkina Faso: Ghana’s gold is marginally more expensive than Mali (1,410.00 GHS) and Burkina Faso (1,440.00 GHS) because of the weaker XOF currency and lower regulatory costs in these countries. However, Mali and Burkina Faso face higher risks of supply chain disruptions due to political instability.
Ghana vs. Sudan: Sudan’s gold is significantly more expensive (1,860.00 GHS) due to hyperinflation and a volatile SDG currency, making Ghana a more attractive market.
Conclusion: Gold in Ghana is competitively priced compared to other top African gold-producing countries.
It is cheaper than in South Africa and Sudan but slightly more expensive than in Mali and Burkina Faso. For investors or buyers, Ghana offers a stable market with reliable regulatory oversight, making it a preferred choice despite minor price differences.
Several factors shape gold prices in Ghana, both in the formal and black markets:
Global Spot Prices: Gold is a globally traded commodity, and its price in Ghana closely tracks international markets (e.g., London Bullion Market). A global price surge, as seen in 2024–2025, directly impacts local prices.
Currency Exchange Rates: The GHS’s value against the USD significantly affects gold prices. A weaker GHS (e.g., 15.50 GHS/USD) increases local gold prices.
Local Demand and Supply: Cultural events, weddings, and investment trends boost demand, especially for 22K and 18K jewelry. Supply from ASM and large-scale mines also influences prices.
Government Policies: Taxes, import duties, and PMMC regulations add costs to formal market gold. The government’s crackdown on galamsey may reduce black market supply, indirectly raising prices.
Craftsmanship and Retail Margins: Jewelry prices include making charges (10–15% of the raw gold price), which vary by design complexity and retailer.
Investment and Buying Tips for Gold in Ghana
For those looking to buy or invest in gold in Ghana, consider the following:
Buy from Licensed Dealers: Purchase from BGBA authorized dealers or reputable jewelers in Accra, Kumasi, or Takoradi to ensure authenticity and legal compliance.
Verify Purity: Request assay certificates for gold bars or bullion. For jewelry, check for hallmarks (e.g., 916 for 22K, 750 for 18K).
Understand Costs: Factor in taxes, making charges, and dealer commissions when budgeting. Compare prices across multiple sellers for the best deal.
Avoid Black Market: While cheaper, black market gold poses legal and quality risks. Stick to formal channels for long-term value and safety.
Diversify Investments: Experts recommend allocating 5–10% of a portfolio to gold as a hedge against inflation and currency depreciation.
Conclusion
Gold remains a vital asset in Ghana, serving as a cultural symbol, investment vehicle, and economic driver. As of April 2025, the price of 24K gold stands at 1,506.82 GHS per gram, with lower purities like 22K (1,379.77 GHS) and 18K (1,129.17 GHS) widely available for jewelry and investment.
The black market offers cheaper alternatives but comes with significant risks. Compared to other African gold-producing countries, Ghana’s prices are competitive, balancing affordability with market stability.
Whether you’re an investor, jeweler, or consumer, understanding Ghana’s gold market dynamics—purity levels, pricing factors, and regional comparisons—empowers informed decisions.
By prioritizing licensed dealers and proper documentation, buyers can navigate this vibrant market with confidence, leveraging gold’s enduring value in Ghana’s economy.
