The Bank of Ghana’s gold holdings fell to 18.6 tonnes at the end of December 2025, according to the Summary of Economic and Financial Data released on January 28, 2026. The data suggests a pivot in how the central bank utilises its gold-backed assets. The decline in tonnage follows a period where the central bank has focused on disinflation. The reduction in holdings comes as the Ghana Gold Board (GoldBod) prepares to assume full operational control of the domestic gold trade in 2026. At the current market rate, Ghana’s remaining 18.6 tonnes of gold (approximately 597,992 troy ounces) is valued at roughly US$3.16 billion.