BoG: Gold crosses $3,000/ounce price, oil jumps 2.4%, cocoa tumbles 8.5%
Business
Gold, oil and cocoa are major export commodities for Ghana
The prices of Ghana’s major export commodities recorded mixed trading on the international commodities market in early 2025, the Bank of Ghana has said.
Gold prices crossed the US$3,000 per fine ounce on March 14, 2025, on account of heightened economic uncertainty triggered by the trade and geopolitical tensions, persistent inflation, and weakening US dollar, Governor Johnson Asiama told briefed journalists on Friday, 28 March 2025, after the 123rd Monetary Policy Committee meetings.
In February 2025, gold prices averaged US$2,897.3 per fine ounce, indicating a year-on-year growth of 9.7 per cent, Dr Asiama indicated.
Similarly, the Governor said crude oil prices recorded a marginal annual growth of 2.4 per cent to settle at an average price of US$74.95 per barrel.
Cocoa prices, however, declined by 8.5 per cent driven by improving supply outlook for the current 2024/25 season.
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