Policy think tank Africa Policy Lens is demanding answers from the Bank of Ghana over the sale of about 19.4 tonnes of Ghana’s gold reserves, questioning the rationale behind the decision at a time when global demand and prices for gold were rising.

Addressing a press conference, the group, through its Executive Director, Dr Hayford Ayerakwa and senior member Wisdom Gomashie, said available data from the central bank shows Ghana’s gold reserves dropped from about 38.04 tonnes to 18.6 tonnes in 2025, suggesting that nearly half of the country’s holdings were sold.

Africa Policy Lens argued that the move contradicts global trends, where central banks are increasing gold reserves as a safe-haven asset amid economic uncertainty.

According to the group, the gold was reportedly sold when prices averaged around 4,000 dollars per ounce, and is now valued much higher, raising concerns about possible financial losses to the country.

The think tank is therefore asking the central bank to explain the basis for the sale, the countries it considers Ghana’s “peers,” and why the reserves were reduced despite projections that gold prices would continue to rise globally.

They also questioned government plans to buy back the gold under a new national reserve policy, insisting the central bank must provide full transparency on the transactions.