The Mining Commission of Tanzania has released the indicative prices for gold and silver, providing updated guidance for traders, miners, and investors across the country.
The world market price for gold is currently 5,047.90 USD per troy ounce, translating to 420,803.05 Tanzanian Shillings per gram.
At the local level, the mineral market price stands at 378,722.74 TZS per gram, while the Buying Centre price, which represents the price at which miners can sell their gold to official buying points, is 370,306.68 TZS per gram.
For silver, the world market price is 81.27 USD per troy ounce, equivalent to 6,774.83 TZS per gram. The mineral market price is listed at 6,097.35 TZS per gram, with the Buying Centre price at 5,961.85 TZS per gram.
The pricing structure reflects a descending scale from global market rates to local Buying Centre prices, accounting for administrative and logistical costs.
Notably, gold sold at local buying centres currently represents about 88% of the world market price in Tanzanian shillings.
These figures serve as an important benchmark for the mining sector, enabling miners and traders to make informed decisions while ensuring transparency in the valuation of precious metals in the domestic market.
