Gold Market in Uganda. Top trends and how to invest.
Gold Market in Uganda. Top trends and how to invest. The gold market in Uganda is increasing in development and becoming more popular on a global market. Its becoming one of the powerful gold hubs in East Africa’s economy. There is a sudden and significant increase in gold export of Uganda
As of recent year 2025, Uganda is recorded for producing around $5.8 bullion and this indicates a steady increase in the gold production of Uganda. This concludes that gold was the best commodity to be sold as it contributed about 44% of total export earnings and this indicates improvement compared to the previous years
Therefore for this rise in the gold production score in Uganda is now considered to be one of the fasted growing gold markets with in Africa. The rise in score has been influenced because of the discovery of new gold deposits, the establishment of gold refineries and advertisement.
For all gold investors who are seeking to buy gold in Uganda, its better to understand the dynamic between the global influence and local policies as its very important. This helps you to make informed decisions
And as of January 29th the gold prices are 16,720,500 UGX per ounce and USD is $4,939 per ounce. This price is influenced by a number of factors like safe haven, and diversifying portfolio to safe guard other assets hence making Uganda one of a competitive hub.
This detailed guide will take you through the trends, opportunities and the challenges that are carrying the gold market in Uganda plus the industry as well. We will provide with the insights for those that are seeking to maneuver into this dynamic gold market.
Some of the Key Players in the gold Market in Uganda 2025
The gold market in Uganda has been influenced and surged the exports in international markets because of some key gold players and these include refineries and deposits. Some of the major key players in gold market in Uganda include Simba gold refinery under Micheal Robinson, African gold refinery also the international mining operations like the Chinese Wagagai project
Under the ministry of Energy and Mineral development, the government was able to regulate licenses and also promoting ethical practices.
Mining bodies like AU Mining Uganda was able to create an impact on the community through providing employment in the key belts while Rusia Mining was advocating for responsible mining
Below are the major Key players in gold market in Uganda
- Simba Gold refinery: Improving the export and quality of gold as it also involved into the global chains
- AUC Mining Uganda Limited: It works more with Mubende- Kassanda gold belts as a significant player
- Kibali Gold mining company: Industry leadership and advocacy responsibility
- Euro refinery under Benard Feni: Top local refining exports to Dubai, that focuses on ethical sourcing and community development
- Wagagai Large scale gold mining project: It’s a central player that is expected to significantly boost or improve the domestic production
How the gold market in Uganda playing currently
In January 2026, the gold market in Uganda is slightly thriving and indicates an increase in gold production, which leads to the increase in exports and also the change in gold prices in Uganda. These are influenced by international factors and local factors
In reference, as of June-July 2025 the exports reached 65,736kgs contributing to the yearly tally of $5.8 billion. The $5.8 include both locally mined and re-exported gold from some regional sources.
The current Uganda gold prices give reference to the global trends as 1 ounce is at 16,720,500 UGX from the previous month because of the geological issues that are pushing the prices to be $46,50 per ounce
The key major production regions in Uganda include Karamoja in the North popular for its artisanal hubs, Busia in the East were the Wagagai mine is dominating, and Mubende and Kasanda in central part of Uganda
One of the most essential and prominent mining is Artisanal Mining as it has employed over 200,000 people and also producing the bulk gold output, though the large ventures like the Wagagai process about 5,000 tones of ore daily and about 1.2 tones in the year
The global gold export have also played a crucial role, as there is a rise and demand from central banks and investors hence boosting the production and export of gold from Uganda.
Locally, the gold refineries are focusing more on 99.9% of purity standards as this can enhance the gold market in Uganda as it manages the competitiveness. The gold market in Uganda is well sustained in growth and development however there still some vulnerabilities like price volatility and smuggling which require a lot of emphasis and management
How to buy gold in Uganda. Detailed step by step guide
Buying gold in Uganda requires caring approach to ensure authenticity, legality and value and especially in Kampala the main gold trading center of Uganda
Carry out Research and verify the dealer
For the best approach look for dealers who are regulated by the Ministry of Energy and Mineral development . Some of the reputable options include Jesa Minerals, Simba gold refinery, Euro gold refinery, Bullion refinery Ltd. Avoid working with unlicensed middlemen in Kampala areas like Nakasero, and Kikubo.
Know what you Need
Find out the best gold type to invest in and some of these gold include gold bars, gold nuggets, and gold dusts. The gold bars best for investment grade)
Visit the gold seller
A reputable gold dealer must be having a physical location. Look out for trusted dealers in Kampala and refineries in Entebbe. In addition, for those buying gold online, use platforms that export support. Request for video verification
Conduct due diligence Transaction
This involves asking for legal documents, request for assay certificates that indicates the weight and purity of the gold. In addition find the payment options if the are traceable and some of the safe payment methods include bank to bank transfer, or escrows as they support bulk payment
Secure storage methods
The safe options include safety deposit boxes, private vaults and the insured accommodation facilities. Additionally, as your exporting gold, you should obtain permits from Uganda revenue authority and also comply with anti money laundering
31 Million metric tones of Gold discovered in Uganda 2026
Challenges and Risks faced by gold market in Uganda
Besides how the gold market in Uganda has been progressing as the records levels shows $5.8 billion. Also the sector faces challenges and some of these challenges include the following.
Market Volatility
This trend shows local vulnerabilities, as gold prices still remain highly sensitive to the global market. Thid makes tough for many buyers, sellers and investors to estimate the prices which affect the decision making. This can also lead to different losses especially for those dealing with large quantities
Geopolitical factors
These are influenced by politics and relations between countries that impact stuff like trade, security and economies. These can result into economic instability, trade policies, and tension or conflicts. As for Uganda if faces issues with DRC of smuggling and security concerns. The deficit in the Uganda Mineral sector may continue into 2026 due a lot of imbalances in the country.
Environmental issues
These issues are concerned with deforestation as they cut trees for mining which leads to disrupts and biodiversity. Another issue can be pollution as the chemicals used in mining affect the society and environment leading to air and water pollution. Also mining lives scars affecting agriculture and livelihoods
Smuggling
This is one of the persistent threats as Uganda is one of the victims for illicit gold primarily from the Democratic Republic of Congo and Sudan. Its estimated that most of the gold percentages that are exported from other countries pass through Uganda the neighboring conflict zones
Future Outlook for gold market in Uganda
The future of gold market in Uganda is highly promising as the gold sectors transitions from artisanal production to more transformed and industrialized value added model as it is supported by new added model
The gold market in Uganda has been influenced and surged the exports in international markets because of some key gold players and these include refineries and deposits. Some of the major key players in gold market in Uganda include Simba gold refinery under Micheal Robinson, African gold refinery also the international mining operations like the Chinese Wagagai project
The established gold refineries such as the Euro gold refinery and Simba gold refinery has supported the gold expansion of Uganda hence reducing reliance on raw exports and attracting foreign investment.
Regulations and compliance under the mining and mineral act of 2022 has led to the improvement and alignment the up comings. This has made mining a pillar for industrialization and also aims for the sector to contribute significantly for further support.
If the regulations are further improved to tighten and enhancing compliance, ethical sourcing and anti-smuggling measures, the Uganda’s gold export could add value
Why buy gold in Uganda with Jesa Minerals
Choosing to invest in gold is one of the smart way to preserve wealth, hedge against inflation and also diversify your portfolio. Therefore to effectively benefit, do it with the right partner who are reputable and transparent. Here Jesa Minerals standard out to be the best gold dealer offering 22k to 24k gold.
Expert in gold market in Uganda
Jesa Minerals is well vast with the gold market for Uganda as it fully understands the dynamics of the Uganda gold market. Our team is well experienced with the regional pricing trends, the regulatory requirements and how to navigate accurately
Offers Exceptional and convenient services
We know how best we can handle our clients whether you’re a first time gold buyer or seasoned investor. Jesa Minerals can handle various things like bulk deals for traders, Transparent and corporate transactions
Fair and competitive pricing
The gold prices we offer reflect the up to date global gold price benchmark. This ensure your getting a competitive rate based on real market movements whether your selling or buying gold
Customer satisfaction and reputation
We make sure our client get the best of there expectations of the gold they buy from Jesa Minerals. In addition, as a Gold and Copper trading in Africa company we focus on professionalism, integrity and reliability. This has boosted our reputation
In Conclusion
The gold market in Uganda is very promising as they are transitioning from artisanal mining activities to modern mining. This has led to the establishment and transformation of the the country’s Economy. Looking into the previous gold market statistics for Uganda, 2025 Uganda was able to get 5.8 bullion as this shows a great improvement.
As Jesa minerals your Gold and Copper Trading in Africa, we work with regulated gold mining sites as we focus on responsible mining through minerals advocacy. This has kept us thrive through the gold market and also keep a strong reputation. Buy gold with confidence at Jesa minerals as we offer quality gold that meets the international gold standards
FAQs
1 Can foreigners buy gold in Uganda?
Yes, but they must comply with the URA regulations and obtain export permits if shipped abroad
2 What are the risks in Uganda’s gold market?
The risks include mining, smuggling, counterfeit gold, and market volatility
3 How is gold priced in Uganda ?
Prices are priced determining the supply and demand, reflecting global gold rates and local markets
4 What are the investment options in Uganda gold market?
The options include physical gold, investing in mining and trading on local market