Gold prices in Tanzania continued their upward trajectory on July 31, 2026, with buying centres offering up to TZS 309,560 per gram following a sharp rise in international bullion markets.
Latest indicative prices released by the Tanzania Mining Commission show that the world market price of gold reached USD 4,108.77 per troy ounce, translating to TZS 351,772.85 per gram in the local market.
The Commission set the indicative mineral market price for gold at TZS 316,595.57 per gram, while the indicative buying centre price stood at TZS 309,560.11 per gram.
The increase reflects sustained global demand for gold, which continues to benefit from its status as a safe-haven asset amid economic uncertainties and financial market volatility.
For Tanzania, where artisanal and small-scale mining contributes significantly to mineral exports and rural incomes, the higher prices are expected to boost earnings for miners and increase government revenue through royalties and other mining-related taxes.
Meanwhile, silver prices also registered gains, with the world market price reaching USD 58.89 per troy ounce.
The corresponding local market price was TZS 5,041.87 per gram, while the indicative mineral market price and buying centre price were set at TZS 4,537.69 and TZS 4,436.85 per gram, respectively.
Copper prices remained relatively strong, supported by demand from global manufacturing and clean-energy industries.
The world market price was recorded at USD 6.44 per pound, equivalent to TZS 37.81 per gram.
The indicative mineral market price was TZS 34.03 per gram, while buying centres were advised to purchase the metal at around TZS 33.27 per gram.
Mining sector analysts say the continued strength of precious and industrial metals could further enhance Tanzania's export performance, with gold remaining the country's leading mineral export and a key contributor to foreign exchange earnings.
The Mining Commission publishes indicative mineral prices regularly to promote transparency in mineral trading and ensure miners receive fair value based on prevailing international market conditions.
