The COVID-19 pandemic has caused major disruption in all economies. One saving grace for African economies, however, has been the surge in the price of gold. The commodity's recent price increase-driven by demand for gold as a safe haven during a crisis-presents an opportunity for the continent's gold-producing countries. Fiscal revenues from gold can serve as a source of counter-cyclical financing when other sources of development finance are drying up, especially for countries that depend heavily on other commodities, such as oil, whose prices have dropped precipitously. This brief discusses the potential opportunities for African countries.