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Ghana’s gold export jumped to a record high in the first half of 2024, Martin Ayisi, the Chief Executive Officer (CEO) of the Minerals Commission, has said.
According to him, the total mineral exports for the first half of the year stood at $9.2 billion, with gold alone accounting for 54%, amounting to five billion dollars.
He said this was because of the surge in gold prices globally, especially in the second quarter of the year, coupled with an increase in local production for both small and large-scale operations.
The gold price averaged a record $2,338 an ounce in the second quarter, 18% higher year-on-year and 13% higher quarter-on-quarter, he stated.
“The average price of gold for July was $2,396 an ounce, noting that gold price inched higher at a new record of $2,482 an ounce on July 17, 2024”, Mr Ayisi stated.
The CEO of the Minerals Commission, thus, predicted that if gold prices remain stable at the average price in the second quarter of the year, then the full-year outlook for gold could hit US$10 billion.
