In fact, between 2022 and 2024, there was a 300%+ jump in official ASM gold output despite there being no GoldBod. A sustained high gold price does not just mean more digging; it also means faster digging. Summary of Price Impact on ASM BehaviorBehaviour Factor Low Gold Price Scenario High Gold Price Scenario Impact on Output Reserve Selection Only high-grade veins/riverbeds mined. Since the 1970s the BSP has had a Domestic Gold Purchase Program, buying local ASM gold to build reserves. Country Gold-Purchase Mechanism Annual ASM Gold (approximate) Governance/Standards Purpose & Notes Ghana Single state-backed firm (Bawa Rock) buys ASM gold; funded by BoG credit.

Source: GhanaWeb January 15, 2026 13:36 UTC