The Mining Commission has released the latest indicative prices for gold and silver, providing vital guidance for miners, traders, and investors across Tanzania.
According to the commission, the world market price for gold currently stands at USD 5,182.98 per troy ounce, equivalent to Tanzanian Shilling (TZS) 430,803.81 per gram.
Within the local market, gold is valued at TZS 387,723.43 per gram, while buying centres are offering TZS 379,107.35 per gram for refined gold.
Silver prices have also been updated. The global rate is USD 87.03 per troy ounce, which translates to TZS 7,233.84 per gram.
In Tanzania, the mineral market price for silver is TZS 6,510.46 per gram, and buying centres are paying TZS 6,365.78 per gram.
These indicative prices serve as a benchmark for local miners and traders, helping ensure transparency in the minerals sector while protecting the interests of small-scale miners.
The commission advises all operators to refer to these prices when engaging in buying or selling transactions to avoid disputes and ensure fair market practices.
Industry analysts note that fluctuations in world market prices directly influence local rates, highlighting the importance of monitoring global trends for investment and trading decisions.
