Gold prices have surged past $5,000 (£3,659) an ounce for the first time in history, extending a remarkable rally that saw the precious metal gain more than 60 per cent in 2025—a development with significant implications for major producers such as Ghana, Africa’s top gold-producing country.
The rally has been fuelled by rising geopolitical and financial uncertainty, including growing tensions between the United States and NATO over Greenland, as well as renewed concerns about global trade disruptions.
Markets have also been unsettled by US President Donald Trump’s trade stance, after he threatened to impose a 100 per cent tariff on Canada should it strike a trade deal with China.
For Ghana, where gold remains a critical export earner and a key source of foreign exchange, the price surge could bolster export revenues, support fiscal inflows, and strengthen the balance of payments—particularly at a time when authorities are seeking to consolidate macroeconomic stability.
Gold and other precious metals are widely regarded as safe-haven assets, attracting investors during periods of heightened uncertainty. The broader commodities rally has also spilled into other metals, with silver climbing above $100 an ounce for the first time on Friday, building on its nearly 150 per cent surge in 2025
