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Tanzania’s small-scale miners and gold traders have received a boost after indicative gold prices rose above TZS 311,000 per gram, reflecting strong performance in the international precious metals market.
According to the latest indicative mineral prices released by the Mining Commission on August 5, 2026, the world market price of gold reached USD 4,146.10 per troy ounce, equivalent to TZS 354,141.07 per gram.
The commission set the domestic mineral market price at TZS 318,726.96 per gram, while buying centres across the country are expected to purchase gold at around TZS 311,644.14 per gram.
The strong gold prices are expected to benefit thousands of artisanal and small-scale miners, who contribute significantly to Tanzania’s mineral production and foreign exchange earnings.
Silver prices also remained firm, with the world market price standing at USD 60.88 per troy ounce, equivalent to TZS 5,200.09 per gram.
The domestic mineral market price was set at TZS 4,680.08 per gram, while buying centres were advised to purchase silver at TZS 4,576.08 per gram.
Meanwhile, copper prices continued to show resilience in global markets. The world market price was recorded at USD 6.62 per pound, translating to TZS 38.77 per gram.
The local mineral market price was set at TZS 34.90 per gram, while buying centres were expected to offer TZS 34.12 per gram.
The Mining Commission publishes indicative mineral prices regularly to provide transparency in mineral trading and ensure miners, dealers and buying centres have a common reference point when conducting transactions.
Mining remains one of Tanzania’s fastest-growing sectors, contributing to export earnings, employment creation and the country’s broader economic development.
