Gold prices in Morocco have surged following a 1.7% increase in global spot gold, reaching $3,281 per ounce on Wednesday. According to the Moroccan Federation of Jewelers, this global rise immediately impacted local markets, with raw gold prices hitting 790 dirhams per gram, and some crafted pieces surpassing 1,000 dirhams per gram.
Idriss El Hezzaz, president of the federation, noted that the sharp increase was felt on Wednesday and Thursday, with price hikes affecting both raw and crafted gold.
He also pointed out that although fraud cases exist, they remain isolated and are more tied to ethics than price fluctuations.
Gold in the Moroccan market comes from four main sources: recycled jewelry, local mines (most of which export their output), imports—which face restrictions—and smuggling.
Mokhtar Kroumi, head of the Casablanca-Settat traditional jewelers’ association, confirmed a market stabilization around 785–1,000 dirhams per gram and emphasized the importance of quality, design, and ethical practices.
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