Gold Price in Africa Today

Africa is the world’s great gold-mining continent. Ghana leads the continent at about 130 tonnes in 2024 (USGS), with Mali (~100 tonnes), Burkina Faso (~94 tonnes) and Sudan (~74 tonnes) close behind on World Gold Council figures that include artisanal mining — and South Africa, the country that once produced most of the world’s gold, still mining around 100 tonnes a year from some of the deepest mines on earth. Gold is the top export for many of these economies: in Burkina Faso it is roughly 17% of GDP and about three-quarters of export revenue, and in Zimbabwe it is more than 60% of export earnings. The continent’s newest stories are just as striking — Côte d’Ivoire, Africa’s fastest-rising producer at 58–59 tonnes in 2024, is targeting 100 tonnes, and Zambia opened its first domestic gold refinery in October 2026.

The consumer side is just as rich. Egypt is the Arab world’s great gold market, where 21K wedding sets are a fixture of every marriage and prices are followed daily in pounds per gram. Morocco’s jewellery trade blends Berber, Arab and French styles. Nigeria and Kenya are growing markets where gold competes with property and dollars as a household store of value, and Mauritius — with its large Indian diaspora — has a full 22K bridal-gold culture of its own. South Africa bridges both worlds: a producer and a consumer market, and home of the Krugerrand, the one-ounce coin first minted in 1967 that invented the modern bullion-coin market.

What the table does — and does not — show

The wholesale prices above convert the same international spot into each local currency, so the dollar column is nearly identical across the continent. The differences that matter are local: currency volatility (a weak naira or pound lifts the local price even when the dollar spot is flat), the premium between official and parallel exchange rates in some markets, and the gap between industrial and artisanal gold — a large share of West African gold is mined by small-scale miners outside official channels, which is why production figures vary by source and why the prices ordinary buyers see in local markets can diverge from the neat conversion in this table. For the full picture in each market — including the producer rankings — see top gold producing countries and the individual country pages, starting with South Africa, Egypt, Ghana, Nigeria and Morocco.