BoG To Purchase Gold Locally To Shore Up Reserves

BoG To Purchase Gold Locally To Shore Up Reserves The Bank of Ghana has launched a programme to purchase gold domestically to help shore up the country’s foreign reserves According to the Governor of the Central Bank, Dr Ernest Addison, the move will enable the Bank of Ghana (BoG) to purchase gold from selected local aggregators and mining firms and pay in the local currency at the prevailing market price. The move, according to the Governor, will double the country’s gold holdings in the next five years from 8.7 tonnes to 17.4 tonnes, the Governor said. “Other than the diversification…