The Mining Commission has released the latest mineral indicative prices for gold and silver, effective February 24, 2026, reflecting continued strength in global precious metals markets and providing updated benchmarks for local trade.
According to the commission, gold prices recorded a notable increase, driven largely by movements in the international market.
The world market price of gold stood at USD 5,206.40 per troy ounce. Converted to local currency, this translates to TZS 432,032.36 per gram.
Based on domestic pricing mechanisms, the mineral market price was set at TZS 388,829.12 per gram, while the buying centre price was fixed at TZS 380,188.47 per gram.
The commission said the indicative prices are intended to guide transactions between miners, buyers and dealers across the country, ensuring transparency and fairness in the mineral trade.
The buying centre price, which is slightly lower than the mineral market price, reflects operational and regulatory considerations within licensed mineral trading centres.
Silver prices also showed an upward trend in the latest update. On the global market, silver was priced at USD 87.19 per troy ounce.
This corresponds to a world market price of TZS 7,235.11 per gram. Locally, the mineral market price for silver was set at TZS 6,511.60 per gram, while the buying centre price stood at TZS 6,366.90 per gram.
The Mining Commission noted that indicative prices are reviewed regularly in line with movements in international commodity markets and prevailing exchange rates.
The commission encouraged miners and traders to follow the published prices and conduct mineral transactions through official channels to enhance revenue collection and curb illegal trade.
The updated prices are expected to benefit small-scale miners by providing clearer guidance on the value of their minerals, while also strengthening confidence in Tanzania’s formal mineral market system.