<P> In 1482 , the Portuguese came to the continent for increased trade . They built the Castle of Elmina , the first European settlement on the Gold Coast . From here they acquired slaves and gold in trade for European goods , such as metal knives , beads , mirrors , rum , and guns . News of the successful trading spread quickly , and eventually British , Dutch , Danish , Prussian and Swedish traders arrived as well . The European traders built several forts along the coastline . The Gold Coast had long been a name for the region used by Europeans because of the large gold resources found in the area . The slave trade was the principal exchange and major part of the economy for many years . In this period , European nations began to explore and colonize the Americas . Soon the Portuguese and Spanish began to export African slaves to the Caribbean , and North and South America . The Dutch and British also entered the slave trade , at first supplying markets in the Caribbean and on the Caribbean coast of South America . </P>
<P> In 1482 , the Portuguese came to the continent for increased trade . They built the Castle of Elmina , the first European settlement on the Gold Coast . From here they acquired slaves and gold in trade for European goods , such as metal knives , beads , mirrors , rum , and guns . News of the successful trading spread quickly , and eventually British , Dutch , Danish , Prussian and Swedish traders arrived as well . The European traders built several forts along the coastline . The Gold Coast had long been a name for the region used by Europeans because of the large gold resources found in the area . The slave trade was the principal exchange and major part of the economy for many years . In this period , European nations began to explore and colonize the Americas . Soon the Portuguese and Spanish began to export African slaves to the Caribbean , and North and South America . The Dutch and British also entered the slave trade , at first supplying markets in the Caribbean and on the Caribbean coast of South America . </P>
why was ghana known as the gold coast
why was ghana known as the gold coast
large gold resources found in the area
large gold resources found in the area