Ghana would benefit from elevated gold prices in 2024 and 2025, Fitch Ratings has disclosed.
According to the UK-based firm, gold prices will remain high during the forecast period.
In a report titled “Global Gold Mining — Relative Credit Analysis”, Fitch said the gold producers’ 2023 sector credit outlook is stable, supported by healthy balance sheets.
According to the UK-based firm, the gold producer financial metrics remain strong for respective ratings partially driven by a period of high gold prices beginning in 2020.
"Gold producer financial metrics remain strong for respective ratings partially driven by a period of high gold prices beginning in 2020, which drove higher shareholder returns and investment as well as stronger financial flexibility".
Again, gold prices have been resilient despite raising real interest rates beginning in 2022, supported, in part, by geopolitical factors.
The precious metal has been trading high this year, going for a little above $1,900 per ounce.
According to the Bank of Ghana, gold continued to dominate the total value of exports, recording $4.67 billion in the first eight months, higher than the $4.22 billion recorded during the same period last year.
Latest Stories
-
Will Ghana’s democracy stand the test of time in the 2024 elections?
32 mins -
Hindsight: Dreams fairytale run proved one thing; it is possible
2 hours -
God makes rulers, not you; you can’t choose your successor – Mahama to Akufo-Addo
3 hours -
Contributors own SSNIT, they must decide who becomes its Director-General – Austin Gamey
4 hours -
Move away from theory-based learning towards practical learning approaches – AUCC President to students
4 hours -
Haaland scores as Manchester City beat Nottingham Forest
5 hours -
Villas-Boas elected Porto president
5 hours -
Situation on frontline has worsened, Ukraine army chief says
5 hours -
US doctor describes witnessing starvation in northern Gaza
5 hours -
CAFCC: RS Berkane make final after USM Alger refused to play 2nd leg over Moroccans’ jersey
5 hours -
Elon Musk in China to discuss enabling full self driving
5 hours -
PSG clinch Ligue 1 title after Lyon’s win over Monaco
7 hours -
Guinness Ghana sets the pace at Ghana Beverage Awards with six awards
8 hours -
Burkina Faso suspends BBC, VOA radio broadcasts over killings coverage
8 hours -
Nicole Kidman honoured with AFI Life Achievement Award
8 hours