Gold Price Today in Tanzania in Tanzanian Shilling (TZS)

Tuesday, 10 September 2024, 2:55 AM

Gold ounce price in Tanzania is 6,828,496.24 Tanzanian Shilling per ounce, Gold gram price is 219,565.80 per gram karat 24, 201,268.65 Tanzanian Shilling per gram karat 22, 192,120.07 Tanzanian Shilling per gram karat 21, 164,674.35 Tanzanian Shilling per gram karat 18.

How Gold Price is Determined in Tanzania

The price of gold in Tanzania, like in many other countries, is influenced by a combination of global market factors and local dynamics. One of the primary determinants is the international gold price, which fluctuates based on supply and demand, geopolitical stability, currency strength, and economic indicators. As Tanzania is a major gold producer in Africa, global market trends directly impact local prices.

Another significant factor is the local mining costs, which include operational expenses, labor, and regulatory fees. If these costs rise, the prices for gold may also increase to ensure profitability for mining companies. Moreover, local political and regulatory environments can affect gold pricing. Government policies regarding taxation, export fees, and mining rights can create a conducive environment or pose challenges for gold production.

Additionally, the presence of middlemen and local trading practices can lead to variations in the price paid by consumers compared to the international rates. The overall economic conditions in Tanzania, including currency fluctuations and inflation rates, can also impact the purchasing power of consumers and the final gold prices in the local market.

Price of Gold Bullion in Tanzania in Tanzanian Shilling

• The price of gold bullion 5 grams 24K in Tanzania: 1,097,828.98 Tanzanian Shilling
• The price of gold bullion 10 grams 24K in Tanzania: 2,195,657.96 Tanzanian Shilling
• The price of gold bullion 20 grams 24K in Tanzania: 4,391,315.91 Tanzanian Shilling
• The price of gold bullion 50 grams 24K in Tanzania: 10,978,289.78 Tanzanian Shilling
• The price of gold bullion 100 grams 24K in Tanzania: 21,956,579.55 Tanzanian Shilling
• The price of gold bullion 250 grams 24K in Tanzania: 54,891,448.88 Tanzanian Shilling
• The price of gold bullion 500 grams 24K in Tanzania: 109,782,897.76 Tanzanian Shilling
• The price of gold bullion 1000 grams 24K in Tanzania: 219,565,795.52 Tanzanian Shilling

Predictions for Gold Prices in Tanzania

The gold market in Tanzania has been experiencing various fluctuations, influenced by global trends and local factors. Strong demand for gold, driven by economic uncertainties worldwide, is expected to maintain high price levels in the near term. Analysts project that the average price of gold could remain robust due to ongoing geopolitical tensions and inflation concerns, which typically boost the appeal of safe-haven assets like gold.

In addition to global factors, local mining developments in Tanzania also play a crucial role in price predictions. The Tanzanian government has been making efforts to improve the mining sector, which may lead to increased production and investment. However, regulatory changes could impose challenges that might affect supply. Additionally, the potential discovery of new gold reserves in regions such as Geita and Mara could further influence price dynamics.

Overall, while predictions suggest a generally positive outlook for gold prices in Tanzania, it is essential for investors to monitor both local developments and broader market trends. The interplay between supply and demand, regulatory changes, and global economic conditions will ultimately shape the future of gold prices in the country.

Gold price in Tanzania in September 2024 in Tanzanian Shilling