Tanzania reaps gains from a rise in gold prices from 2,655.80 to 4,190.47 US dollars
DODOMA: The Minister for Minerals, Anthony Mavunde, has said that global mineral trade trends continue to shift due to economic, political, and market demand changes, leading to a significant rise in gold prices to 4,190.47 US dollars from 2,655.80 US dollars in the previous period.
He noted that the increase in gold prices is driven by several factors, including rising global demand for the mineral as a safe store of value amid instability in the global economy.
Mavunde made the remarks on April 27, 2026, in Parliament in Dodoma while presenting the Ministry of Minerals’ budget proposals for the 2026/2027 financial year.
Regarding diamonds, the Minister said prices have continued to decline, averaging 159.84 US dollars between July 2025 and March 2026 compared to 168.95 US dollars during the same period in 2024/2025. He attributed the decline to several factors, including increased use of synthetic diamonds, which have reduced demand for natural diamonds in major global markets such as China and the United States.
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He further stated that global coal prices have also declined due to reduced demand in the international market, falling to an average of 26.69 US dollars per tonne compared to 40.75 US dollars per tonne in 2024/2025, representing a decrease of 34.50 percent.
On Tanzanite, Mavunde said the trade continues to face challenges, including limited access to reliable markets and competition from synthetic gemstones. As a result, prices dropped from an average of 2,433.96 US dollars per kilogram between July 2024 and March 2025 to 2,270.44 US dollars per kilogram between July 2025 and March 2026, a decrease of 6.72 percent.
The government stated it will continue to monitor global mineral market trends and implement strategic measures to safeguard the interests of the mining sector and support its contribution to national economic growth.
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