The Mining Commission of Tanzania has released the latest indicative prices for gold and silver, reflecting trends in both the global and local markets. The updates are aimed at providing guidance for miners, traders, and investors across the country.
According to the Commission, the world market price for gold stands at USD 4,626.05 per troy ounce, equivalent to TZS 368,071.67 per gram.
Locally, the mineral market price has been set at TZS 331,264.50 per gram, while the buying centre price is TZS 323,903.07 per gram.
Silver has also seen fluctuations. The world market price is currently USD 90.80 per troy ounce, translating to TZS 7,224.50 per gram.
At the local level, the mineral market price is TZS 6,502.05 per gram, and the buying centre price is TZS 6,357.56 per gram.
The Commission emphasized that these indicative prices serve as benchmarks to ensure transparency and fairness in mineral trading within Tanzania.
They provide miners and traders with reliable reference points, helping stabilize the local mineral market and protect the interests of small-scale and artisanal miners.
The Mining Commission continues to encourage stakeholders to monitor market trends and transact at regulated prices, fostering a sustainable and profitable mining sector in the country.
For more information, stakeholders can visit the Mining Commission website at www.tumemadini.go.tz. or follow their official social media accounts.