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Gold prices remained at historically high levels on June 22, 2026, reinforcing the mineral's position as Tanzania's leading export commodity and a key driver of growth in the mining sector.
Latest indicative prices released by the Mining Commission show that gold was trading at $4,179.90 per troy ounce on the world market, equivalent to Sh355,228.67 per gram. The local mineral market price was set at Sh319,705.81 per gram, while licensed buying centres offered Sh312,601.23 per gram.
The strong performance of gold comes amid sustained global demand for the precious metal, which is widely regarded as a safe-haven asset during periods of economic uncertainty.
For Tanzania, higher gold prices are expected to boost export earnings, increase government revenues and improve returns for small-scale and large-scale miners alike.
The Mining Commission's latest price bulletin also indicated positive performance for silver. The world market price for silver stood at $64.96 per troy ounce, translating to Sh5,520.62 per gram. The domestic mineral market price was Sh4,968.56 per gram, while buying centres offered Sh4,858.15 per gram.
Copper, an increasingly strategic mineral due to its growing use in renewable energy technologies, electric vehicles and industrial manufacturing, was quoted at $6.33 per pound on the international market. This was equivalent to Sh36.89 per gram, while the local mineral market price stood at Sh33.20 per gram and the buying centre price at Sh32.46 per gram.
The publication of indicative mineral prices is part of ongoing efforts by the Mining Commission to strengthen transparency and efficiency in mineral trading across the country.
The prices serve as a reference point for miners, traders and investors, helping to ensure fair transactions and informed decision-making within the sector.
Mining analysts note that sustained strong prices for gold could encourage increased production and investment in exploration activities, particularly among artisanal and small-scale miners who account for a significant share of Tanzania's gold output.
The mining sector continues to play a crucial role in Tanzania's economy, contributing substantially to foreign exchange earnings, employment creation and government revenue.
The government has in recent years implemented reforms aimed at increasing value addition, improving oversight and ensuring Tanzanians benefit more from the country's mineral resources.
As global demand for minerals continues to rise, particularly those required for industrialisation and the energy transition, Tanzania is expected to remain well-positioned to leverage its abundant mineral wealth to support long-term economic growth and development.
