How did Ghanaian king control the price of gold?

Answer 1

The Ghanaian king, specifically during the time of the ancient Ghana Empire, controlled the price of gold through a combination of monopolistic practices and regulation of trade. He maintained exclusive rights over gold production and trade, ensuring that all gold mined within his territory was collected and stored in royal reserves. By controlling the supply of gold and regulating its distribution, the king could influence its value. Additionally, the king imposed taxes and tariffs on gold transactions, further asserting his economic authority over this precious resource.