The Mining Commission of Tanzania has released the latest mineral indicative prices for March 20, 2026, showing strong global and local market values for both gold and silver.
According to the official daily price bulletin published by the commission, the world market price for gold reached $4,748.20 per troy ounce, equivalent to Sh396,652.97 per gram when converted into Tanzanian shillings.
After local market adjustments, the mineral market price for gold was set at Sh356,987.67 per gram, while the indicative buying centre price for domestic transactions stood at Sh349,054.61 per gram.
For silver, the world market price was recorded at $74.16 per troy ounce, translating to Sh6,195.14 per gram in Tanzanian shillings.
The mineral market price for silver was set at Sh5,575.63 per gram, while the buying centre price was Sh5,451.73 per gram.
The Mining Commission explained that the mineral market price reflects adjustments from the global conversion rate to account for regulatory requirements such as royalty payments, inspection fees and other statutory deductions applicable in Tanzania’s mineral trading system.
Indicative buying centre prices are used as reference rates for transactions at licensed mineral markets and buying centres across the country.
These prices help ensure transparency and fairness in mineral trade between miners, traders and government authorities.
The commission publishes the indicative prices daily based on movements in the international market and the prevailing exchange rate.
The system is intended to help small-scale miners and traders obtain fair value for their minerals while enabling the government to monitor and regulate mineral trade effectively.
Gold remains Tanzania’s leading mineral export and one of the country’s key foreign exchange earners, contributing significantly to the growth of the mining sector.
Silver, though produced in smaller quantities, is often extracted as a by-product of gold mining.
The latest price update indicates continued strong demand in global precious metals markets, which may positively influence earnings for local miners and mineral traders operating within Tanzania’s formal mineral trading framework.
The indicative prices are published daily by the Mining Commission through its official portal to guide stakeholders in the mining sector on prevailing mineral market trends.
