Tanzania · TZS · July 2023
Gold Price in Tanzania — July 2023
In July 2023, the gold price in Tanzania closed at approximately TSh4,957,788 per troy ounce, equivalent to TSh1,859,200 per tola or TSh159,396 per gram. This represents a +1.01% change on the month (TSh4,908,403 open → TSh4,957,788 close).
Open
TSh4,908,403
per troy ounce
Close
TSh4,957,788
per troy ounce
High
TSh4,971,499
per troy ounce
Low
TSh4,802,185
per troy ounce
All unit prices at July 2023 close — Tanzania
| Unit | Weight | Closing TZS price |
|---|---|---|
| Troy ounce | 31.1035 g | TSh4,957,788 |
| Gram | 1.0000 g | TSh159,396 |
| 10 grams | 10 g | TSh1,593,965 |
| Kilogram | 1,000 g | TSh159,396,473 |
| Tola | 11.664 g | TSh1,859,200 |
Karat-purity breakdown at July 2023 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KTANZANIA STD | TSh159,237 | TSh1,857,341 |
| 22K | TSh146,007 | TSh1,703,028 |
| 21K | TSh139,472 | TSh1,626,800 |
| 18K | TSh119,547 | TSh1,394,400 |
| 14K | TSh93,247 | TSh1,087,632 |
| 10K | TSh66,468 | TSh775,287 |
Daily gold price in TZS — July 2023
July 2023 gold market: Cooler inflation lifts gold
BullishA cooler CPI print sparked a brief relief rally.
Gold recovered toward $1,960 in July after a softer-than-expected US inflation report revived hopes that the Fed was nearly finished hiking. A weaker dollar added to the tailwind, though the rally proved short-lived.
What drove gold in July 2023
- softer US June CPI
- weaker dollar
- peak-Fed hopes
- short-covering
Key events in July 2023
- Jul 13Cooler US inflation print lifts gold toward $1,960
What happened next
Rising long-term yields reversed the gains through August and September.
For gold buyers in Tanzania
July's bounce was a head-fake; the bond market would soon reassert its grip on gold.
The 2023 gold market: Banking crisis and another record CB buy year
Silicon Valley Bank failed in March 2023, followed by Credit Suisse rescue. Gold rallied to $2,072 in May, then traded $1,820–$2,090 through year-end. Central banks bought another 1,037 tonnes — second-highest ever. Year close: $2,062.
Key drivers in 2023
Regional banking crisis, Credit Suisse failure, central-bank buying continues, persistent inflation
2023 XAU/USD high
$2,135 (Dec)
2023 XAU/USD low
$1,810 (Feb)
Era context — The modern bull market (2019 to today)
Gold's second major bull market of the 21st century. Driven by COVID stimulus, Russia sanctions, central-bank accumulation at record levels, and the structural shift toward a multi-polar reserve system. New all-time highs reached repeatedly since 2020.
The Tanzania gold market
Tanzania retail gold prices are quoted in the local currency per gram for 24K and 22K purities, and per troy ounce for investment-grade bullion. Local rates usually sit above the international XAU/USD spot price after import duties, sales taxes, and jewellery making charges are applied. Use this archive as the international reference price; final retail rates depend on your dealer and the date's exchange rate.
Standard quote unit
gram
Common purity
24K
Currency
TZS (TSh)
Daily gold price — July 2023, Tanzania
TSh4,908,403
$1,951.02/oz
TSh4,858,250
$1,931.09/oz
TSh4,852,501
$1,928.80/oz
TSh4,849,986
$1,927.80/oz
TSh4,842,187
$1,924.70/oz
TSh4,802,185
$1,908.80/oz
TSh4,836,149
$1,922.30/oz
TSh4,851,193
$1,928.28/oz
TSh4,837,406
$1,922.80/oz
TSh4,865,584
$1,934.00/oz
TSh4,914,139
$1,953.30/oz
TSh4,926,215
$1,958.10/oz
TSh4,915,145
$1,953.70/oz
TSh4,930,768
$1,959.91/oz
TSh4,904,830
$1,949.60/oz
TSh4,968,732
$1,975.00/oz
TSh4,969,738
$1,975.40/oz
TSh4,971,499
$1,976.10/oz
TSh4,932,504
$1,960.60/oz
TSh4,950,882
$1,967.91/oz
TSh4,930,995
$1,960.00/oz
TSh4,927,724
$1,958.70/oz
TSh4,946,844
$1,966.30/oz
TSh4,894,138
$1,945.35/oz
TSh4,916,529
$1,954.25/oz
TSh4,962,329
$1,972.46/oz
TSh4,957,788
$1,970.65/oz
How Tanzania gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The TZS/USD exchange rate comes from exchangerate-api.com's 2023 year-end snapshot.
Conversion. Every TZS figure on this page is computed as XAU/USD price × TZS/USD rate. We use the year-end exchange rate consistently across all July 2023 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in Tanzania, add the country-specific levies described in the “Tanzaniagold market” section above.
FAQ — Tanzania gold price in July 2023
What was the gold price in Tanzania in July 2023?
In July 2023, gold in Tanzania opened at TSh4,908,403/oz and closed at TSh4,957,788/oz — a move of +1.01% on the month. Per tola: ≈TSh1,859,200; per gram: ≈TSh159,396; per 10g: ≈TSh1,593,965.
What was the 24K gold rate per tola in Tanzania in July 2023?
The 24K gold rate per tola in Tanzania at the July 2023 close was approximately TSh1,859,200, derived from international XAU/USD spot of $1,970.65/oz times the 2023-end TZS/USD exchange rate of 2,515.8137. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Tanzania in July 2023?
Tanzania's most-quoted retail standard is 24K per gram. At the July 2023 close, that worked out to approximately TSh159,237 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
TZS prices on this page are computed from the verified international XAU/USD spot price for July 2023 (sourced from gold-api.com), multiplied by the 2023-end TZS/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The TSh figures here represent the international gold spot price converted to TZS at the 2023-end exchange rate. Tanzania's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in Tanzania? See live gold prices in Tanzania with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2023 archive or the USD-only July 2023 page with the country-by-country list at the bottom.
Other markets? Compare July 2023 prices across other major gold-trading countries: Kenya, Uganda, Zambia, South Africa, Nigeria, Mozambique.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to TZS at the 2023-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in Tanzania before transacting.