The Mining Commission of Tanzania has released the latest mineral indicative prices for gold and silver, providing a crucial benchmark for miners, traders, and investors in the country’s mineral sector.
According to the commission, the world market price for gold stands at USD 5,122.82 per troy ounce, equivalent to TZS 411,721.32 per gram.
The local mineral market price has been set at TZS 370,549.19 per gram, while the buying centre price is TZS 362,314.77 per gram. These prices provide a reference for fair trading across the country, helping ensure transparency in gold transactions.
For silver, the world market price is USD 109.61 per troy ounce, translating to TZS 8,809.36 per gram. Locally, the mineral market price is TZS 7,928.43 per gram, and the buying centre price is TZS 7,752.24 per gram.
The indicative prices aim to guide traders and strengthen the regulation of the mineral market in Tanzania.
The Mining Commission emphasizes that these indicative prices are essential in protecting both miners and buyers, ensuring that mineral trade remains fair and competitive. The prices also reflect global trends while accounting for local market conditions.
For more information on mineral pricing and regulations, the public can visit the Mining Commission’s official website at www.tumemadini.go.tz or follow their official social media accounts.