The Mining Commission of Tanzania has released the Mineral Indicative Prices for February 2, 2026, showing strong performance in the global precious metals market, led by a sharp rise in gold prices.
The prices guide mineral trading across the country, from international markets down to licensed local buying centres.
According to the Commission, gold continued to trade at a record high on the world market, reflecting strong global demand and sustained investor interest.
On the international market, gold was priced at 5,066.21 US dollars per troy ounce, equivalent to 412,186.72 Tanzanian shillings per gram.
At the local level, the Mineral Market Price for gold was set at 370,968.05 shillings per gram, while licensed buying centres across the country were advised to purchase gold at 362,724.32 shillings per gram.
The difference between global and local prices reflects statutory deductions such as royalties, taxes, and operational costs within the mineral trading chain.
Silver also showed steady performance, though at much lower levels compared to gold. On the world market, silver was priced at 103.19 US dollars per troy ounce, translating to 8,395.54 shillings per gram.
The Mineral Market Price was set at 7,555.98 shillings per gram, while the buying centre price stood at 7,388.07 shillings per gram.
The Mining Commission explained that the indicative prices are issued daily to ensure transparency and fairness in mineral trading, particularly for small-scale miners who rely on buying centres as their main market.
The structured pricing system helps protect miners from exploitation while aligning local trade with global market movements.
The Commission also reminded stakeholders that world market prices are quoted in troy ounces, while domestic transactions are conducted per gram in Tanzanian shillings. This standardisation helps ensure accuracy and consistency in mineral valuation across the country.
With gold prices remaining high, analysts say the outlook is positive for Tanzania’s mining sector, especially for artisanal and small-scale miners, provided global prices remain stable and domestic compliance continues to improve.