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, an unprecedented rise with major implications for top producers such as Ghana, Africa’s leading gold producer.
The rally has been driven by heightened geopolitical and financial uncertainty, including rising tensions between the United States and NATO over Greenland, alongside renewed fears of global trade disruptions.
Market sentiment has also been rattled by US President Donald Trump’s hardline trade posture, after he threatened to impose a 100 per cent tariff on Canada should it enter a trade agreement with China.
For Ghana, where gold remains a critical export earner and a key source of foreign exchange, the price surge could significantly boost export revenues, support fiscal inflows, and strengthen the balance of payments—especially as authorities work to consolidate macroeconomic stability.
Gold and other precious metals are widely seen as safe-haven assets, attracting investors during periods of heightened uncertainty. The 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.
The historic rise underscores gold’s renewed status as a global hedge in an increasingly volatile economic and geopolitical climate.
