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Tanzania's Mining Commission has released the latest indicative mineral prices, showing a decline in gold prices while silver and copper remained relatively stable in the global market.
According to the commission's daily price bulletin issued on July 9, the world market price of gold stood at USD 4,088.20 per troy ounce, equivalent to TZS 347,678.71 per gram.
The indicative mineral market price was set at TZS 312,910.84 per gram, while the buying centre price reached TZS 305,957.27 per gram.
The updated prices serve as a benchmark for mineral trading across Tanzania and are used by licensed buying centres, miners and traders to ensure transparency in mineral transactions.
Silver prices were recorded at USD 58.42 per troy ounce, translating to TZS 4,968.30 per gram in the world market.
The indicative mineral market price was TZS 4,471.47 per gram, while the buying centre price stood at TZS 4,372.10 per gram.
Meanwhile, copper traded at USD 6.07 per pound, with the world market price equivalent to TZS 35.40 per gram.
The commission set the indicative mineral market price at TZS 31.86 per gram, while the buying centre price was TZS 31.15 per gram.
The Mining Commission publishes indicative mineral prices daily to promote fair pricing, improve transparency in the mining sector and assist miners, traders and investors in making informed business decisions.
The prices also provide a reference for royalty assessment and other regulatory requirements in Tanzania's mining industry.
