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Gold price in Madagascar
The official reference value of a gram of pure gold in ariary, indexed on the LBMA quote, as published by the Ministry of Mines: the value in force, its archive, and the mining statistics.
As of 2026-07-11, Madagascar's reference value for pure gold is 536,690.98 ariary per gram, per the Ministry of Mines' official simulator. It rests on the LBMA quote of 4,130.15 dollars per ounce and the reference rate of 4,280.44 ariary per dollar the ministry displays. In 2024, mining product exports amounted to 3,976.4 billion ariary. Source: Ministry of Mines, collected daily by Stileex.
Pure gold (official reference)
536,690.98 Ar/g
About 125.34 USD per gram at our USD/MGA index rate.
LBMA quote
4,130.15 USD/oz
That is 132.80 USD per gram, as displayed by the ministry.
Gap to the LBMA × rate product
5.6 %
The gap between the official simulator's value and the plain product of the LBMA quote by the 4,280.44 ariary rate the ministry displays, computed from the same source's three published values.
The reference-value archive
The ministry publishes the day's value with no history. Stileex archives it at every change: this series builds up day by day since July 2026.
One point per value change; the value stays in force until the next point. Source: Ministry of Mines, collected by Stileex.
See the archived values
| Date | Pure gold (Ar/g) |
|---|---|
| 2026-07-11 | 536,690.98 |
Values in ariary per gram of pure gold, per the official simulator (100 % purity).
Mining product exports
The annual mining product exports the ministry publishes, in value. They cross-check the foreign trade tracked by customs; years the source displays as zero are not carried over.
See exports by year
| Year | Exports (bn Ar) |
|---|---|
| 2024 | 3,976.4 |
| 2023 | 6,002.5 |
| 2022 | 5,450.4 |
| 2021 | 2,987.8 |
| 2020 | 1,876.1 |
| 2019 | 2,804.3 |
Amounts in billions of ariary, as published.
The sector's non-tax revenue
The mining sector's non-tax revenue, as published by the ministry.
| Year | Revenue (bn Ar) |
|---|---|
| 2024 | 76.4 |
| 2023 | 71.6 |
| 2022 | 62.7 |
Amounts in billions of ariary, as published.
Mining foreign-currency repatriation
Mining exporters must repatriate their export proceeds in foreign currency. The ministry publishes the commitment, the repatriated amount and the repatriation rate; this page carries them verbatim.
Mining substances
| Year | Commitment (bn Ar) | Repatriated (bn Ar) | Published rate |
|---|---|---|---|
| 2024 | 2,042.4 | 1,369.0 | 67.03 % |
| 2023 | 6,005.7 | 5,413.3 | 90.14 % |
| 2022 | 545.0 | 5,076.8 | 93.14 % |
| 2021 | 2,987.9 | 2,866.5 | 95.94 % |
| 2020 | 1,876.1 | 1,420.6 | 75.72 % |
| 2019 | 2,804.3 | 2,360.4 | 84.17 % |
Amounts in billions of ariary and rates as published by the ministry.
Gold
| Year | Commitment (bn Ar) | Repatriated (bn Ar) |
|---|---|---|
| 2024 | 1.6 | 1.2 |
| 2020 | 394.0 | 106.2 |
| 2019 | 372.2 | 162.8 |
| 2018 | 323.9 | 132.1 |
| 2017 | 129.0 | 43.2 |
The ministry publishes no rate for gold alone; amounts as published, in billions of ariary.
Method and source
The figures come from the public API behind the Ministry of Mines' website: the day's reference values (the LBMA quote and USD rate displayed on the market-values page), the price of a gram of pure gold returned by the official simulator queried at 100 % purity, and the published annual statistics (exports, non-tax revenue, foreign-currency repatriation). Every response is archived verbatim before normalisation.
The source publishes no history of the reference value: this page's archive builds from July 2026 onwards, one point per value change. The annual tables carry the published figures, including the repatriation rate, without reprocessing.
Source: Ministry of Mines (Madagascar)
API access
The gold reference value and the mining statistics are available as JSON, for your services and your agents.
- Pure gold, value in force
GET https://api.stileex.xyz/v1/series/mg/gold-price/latest- Annual mining exports
GET https://api.stileex.xyz/v1/series/mg/mining-exports/latest- Repatriation rate
GET https://api.stileex.xyz/v1/series/mg/mining-forex-repatriation-rate/latest- All series
GET https://api.stileex.xyz/v1/series/mg
Frequently asked questions
- What is the gold price in Madagascar today?
- The official reference value of a gram of pure gold sits at the top of this page with its date: the price computed by the Ministry of Mines' simulator, indexed on the LBMA quote and expressed in ariary. It is an administrative reference value, not the price of any given transaction.
- Why does this value differ from the world gold price?
- The official simulator's value comes out below the plain product of the LBMA quote by the dollar rate: the ministry applies its own calculation, whose detail is not published. This page measures that gap from the same source's three published values, on the same collection day.
- How often does this value change?
- It follows the LBMA quote, which moves on trading days. We query the source daily and only add a point to the archive when the value changes; the value stays in force between two points.
- What is foreign-currency repatriation?
- Mining exporters must bring the foreign currency earned from their exports back to Madagascar. The ministry publishes the yearly commitment, the repatriated amount and the repatriation rate; this page carries those figures verbatim.