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Silver buying price reaches TZS4,319 as Mining Commission releases October 20 indicative rates
Tanzania’s Mining Commission has set the indicative buying price for gold at TZS312,918.55 per gram, while silver is priced at TZS4,319.47 per gram, according to rates released on October 20, 2026.
The prices provide a reference for transactions at mineral buying centres, offering miners and traders guidance on the value of their minerals amid movements in international markets.
The commission’s figures show that the international gold price stood at $4,175.66 per troy ounce, equivalent to TZS355,589.26 per gram.
However, the indicative mineral market price was TZS320,030.34 per gram, while the buying centre price was lower at TZS312,918.55 per gram.
The difference between the international market equivalent and the buying centre price highlights the importance of understanding the various pricing benchmarks when miners sell their gold.
For silver, the international market price stood at $57.64 per troy ounce, equivalent to TZS4,908.49 per gram.
The indicative mineral market price was TZS4,417.64 per gram, while the buying centre price was TZS4,319.47 per gram.
Copper was priced at $6.58 per pound on the international market, equivalent to TZS38.42 per gram. Its indicative mineral market price was TZS34.58 per gram, while the buying centre price stood at TZS33.81 per gram.
The daily indicative prices are particularly relevant to small-scale miners, who depend on mineral sales for their incomes and need reliable market information when negotiating transactions.
Access to transparent pricing information can help miners assess offers from buyers and better understand how international commodity prices translate into local payments.
Gold remains an important contributor to Tanzania’s mining sector, which supports government revenue, exports and employment, particularly in communities where small-scale mining is a major economic activity.
However, the published figures are indicative prices for October 20 and should not be interpreted as guaranteed payments to every miner. Actual proceeds may depend on the mineral’s quality, purity and applicable transaction terms.
The release also underscores the importance of monitoring international commodity markets, as changes in global prices can affect earnings across the domestic mining value chain.
For small-scale miners, the key consideration is how much they ultimately receive at the buying centre after the quality of their mineral has been assessed.