https://en.sputniknews.africa/20251028/record-gold-prices-reflect-de-dollarization-trend-stirring-opportunity-for-africa-1079972761.html
Record Gold Prices Reflect De-dollarization Trend, Stirring Opportunity for Africa
Record Gold Prices Reflect De-dollarization Trend, Stirring Opportunity for Africa
Sputnik Africa
Investors appeal to gold as a safe haven amid renewed US–China trade frictions, sending prices to record highs and aligning with the BRICS’ push to develop a... 28.10.2025, Sputnik Africa
2025-10-28T17:47+0100
2025-10-28T17:47+0100
2025-10-28T17:47+0100
african currents
podcasts
sputnik africa
africa
central africa
south africa
east africa
west africa
north africa
southern africa
https://cdn1.img.sputniknews.africa/img/07e9/0a/1c/1079974637_0:88:400:313_1920x0_80_0_0_d1d36e1b90f21a36eb426e47dfc1c290.jpg
Record Gold Prices Reflect De-dollarization Trend, Stirring Opportunity for Africa
Sputnik Africa
Investors appeal to gold as a safe haven amid renewed US–China trade frictions, sending prices to record highs and aligning with the BRICS’ push to develop a payment system that strengthens their monetary sovereignty.
In October, gold prices exhibited fluctuations, rising to over 90 percent above the $2,150 per ounce mark from the previous year. The surge reflects deep market anxiety and renewed faith in gold as a store of value. Geopolitical tensions, rising global debt, and persistent inflation continue to drive the rally. Central banks, particularly in the Global South, have become major buyers. In 2024, they added more than 1,000 tonnes to their reserves, marking the 15th consecutive year of net purchases, according to the World Gold Council. Across Africa, the trend stands out. Algeria now holds about 174 tonnes of gold, Libya 147 tonnes, and Egypt 128 tonnes. Ghana, through its domestic purchase program, has raised its reserves from 8.7 tonnes to more than 31 tonnes, an increase of 255 percent. These moves show a regional effort to use gold as protection against global shocks and as a base for monetary resilience. In the background, the BRICS group continues to develop a payment system that aims to let member countries trade in their local currencies.African Currents spoke with Professor Kalu Ojah, Wits Professor Emeritus of Financial Economics at the University of Pretoria’s Gordon Institute of Business Science in South Africa, to gain insights into how the rise in gold prices could affect African countries’ reserve strategies.Want to hear more from our guest? Catch the full conversation on the African Currents podcast, brought to you by Sputnik Africa.You’ll find our episodes not just on the website, but also on Telegram.► You can also stream our podcast on Apple Podcasts, Spotify, Deezer, Pocket Casts, Afripods, Podcast Addict.► Check out all the episodes of African Currents.
africa
central africa
south africa
east africa
west africa
north africa
southern africa
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2025
Chimauchem Nwosu
https://cdn1.img.sputniknews.africa/img/07e8/06/0b/1066992175_0:0:278:278_100x100_80_0_0_b5f6eaa3b85dbfcd0266ea860848a996.jpg
Chimauchem Nwosu
https://cdn1.img.sputniknews.africa/img/07e8/06/0b/1066992175_0:0:278:278_100x100_80_0_0_b5f6eaa3b85dbfcd0266ea860848a996.jpg
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Chimauchem Nwosu
https://cdn1.img.sputniknews.africa/img/07e8/06/0b/1066992175_0:0:278:278_100x100_80_0_0_b5f6eaa3b85dbfcd0266ea860848a996.jpg
podcasts, sputnik africa, africa, central africa, south africa, east africa, west africa, north africa, southern africa, brics, gold, аудио
podcasts, sputnik africa, africa, central africa, south africa, east africa, west africa, north africa, southern africa, brics, gold, аудио
Record Gold Prices Reflect De-dollarization Trend, Stirring Opportunity for Africa
Investors appeal to gold as a safe haven amid renewed US–China trade frictions, sending prices to record highs and aligning with the BRICS’ push to develop a payment system that strengthens their monetary sovereignty.
In October, gold prices exhibited fluctuations, rising to over 90 percent above the $2,150 per ounce mark from the previous year. The surge reflects deep market anxiety and renewed faith in gold as a store of value. Geopolitical tensions, rising global debt, and persistent inflation continue to drive the rally. Central banks, particularly in the Global South, have become major buyers. In 2024, they added more than 1,000 tonnes to their reserves, marking the 15th consecutive year of net purchases, according to the World Gold Council.
Across Africa, the trend stands out. Algeria now holds about 174 tonnes of gold, Libya 147 tonnes, and Egypt 128 tonnes. Ghana, through its domestic purchase program, has raised its reserves from 8.7 tonnes to more than 31 tonnes, an increase of 255 percent. These moves show a regional effort to use gold as protection against global shocks and as a base for monetary resilience. In the background, the BRICS group continues to develop a payment system that aims to let member countries trade in their local currencies.
African Currents spoke with Professor Kalu Ojah, Wits Professor Emeritus of Financial Economics at the University of Pretoria’s Gordon Institute of Business Science in South Africa, to gain insights into how the rise in gold prices could affect African countries’ reserve strategies.
"The advantage and why people may feel a sense of sovereignty is going to accrue from going back to the gold standard is precisely the fact that you will not have a country like the US whose currency is serving as the international reserve currency that can hold other countries hostage by either seizing your holdings in dollars or hiking through their abrupt economic behavior [...]. If you don't have gold and you're an African country, but you increase your productivity in whatever area of production you are endowed, you are going to have more output and a surplus from that output, which will be ready for export. In the process of that export being consummated, your currency will then gain a bit more in its relative value," Ojah noted.
Want to hear more from our guest? Catch the full conversation on the African Currents podcast, brought to you by Sputnik Africa.
You’ll find our episodes not just on the website, but also on
Telegram.► Check out all the episodes of African Currents. 
