After gold in contact with unprecedented levels, exceeding the threshold of 3900 dollars an ounce, the jewelry and jewelry market in Morocco lives in a state of anticipation and apprehension to what might lead to fluctuations by the end of a “exceptional year”; Especially since the speed and succession of heights may give an “investment opportunity” to some, in exchange for an increasing fear among professionals about its implications for the purchasing power of consumers and buyers.
And overlapping factors increased the luminous metal shine; The most prominent of which is the increasing fears of the accumulation of global debt, with the continued closure of the US government, which ignited the markets of safe havens and the direction of investors to it.
After opening trading at the beginning of the week in immediate transactions, an increase of 1.2 percent to $ 3932 an ounce, the same percentage approximately about 2 percent at the end of trading yesterday evening, amid expectations of additional discounts in interest rates by the Federal Reserve (US Central Bank).
The US gold futures for next December delivery increased 1.2 percent to $ 3956; In fulfillment of a number of global expectations, most notably HSBC “HSBC”, which confirmed last Friday that “the price of gold reaches more than $ 4000 an ounce in the short term, driven by geopolitical risks, financial tensions, and anxiety about the independence of the Federal Reserve.”
According to Reuters, the current wave of heights “may continue until 2026 with the support of the official sector purchases”, recorded that “the institutional demand for gold as a tool to diversify investments is likely to remain strong.”
In Morocco, a number of gold and gold merchants confirmed, in identical statements to the newspaper Hespress, that “the local demand began to be affected by the successive increases that may approximately $ 5,000 at the end of the year”, despite alerting to the continuation of what they described as “the comprehensive recession in the local market due to the decline in demand clearly since last summer.”
A professional source from the Moroccan Federation for the jeweler, speaking to Hespress, confirmed that the continuation of the wave of ascension – as professionals expect – a decisive given may re -draw the map of “safe investment” in Morocco, especially in light of the “fluctuation” of financial markets and currency fluctuations and “the prosperity of sales and purchases outside the legal paths” especially in virtual sites and networks.
The same professional source pointed out that “the goldsmiths are still confused about how to deal with the intensity of the great turns that the price is expected to know for the initial material (raw)”, stressing “their damage due to the differences that began to expand the fluctuations of the global stock exchange of gold and their capabilities to import it, with the continued absence of a national platform for this precious metal.
“The continuous rise in gold prices is an investment opportunity for customers in the market, especially for those who started investing from low price levels (when the price was 400 to 700 dirhams per gram).
“For the people who want to invest, this rise is a real opportunity,” Odoud said, in a statement to the newspaper Hespress, adding: “Whoever has started buying gold since low levels will notice today the increase in the value of his investments. This is better than any other investment in light of global inflation. Gold is currently the safest haven.”
The professional continued by asserting that “the perspective of merchants is different”, as the rapid rise may limit the commercial movement and lead to a relative stagnation. “
“From a commercial point of view, boom depends on the stability of prices. If the prices rise continuously, the demand may decrease temporarily, because customers need time to accept new prices. Currently, we notice a stagnation of approximately 50 percent, and we hope that the situation will improve with the stability of prices.”
He also pointed out that “the acceptance of society for high prices plays decisively in moving the market,” stressing that “the continued rise in gold will continue to attract investors who trust in its value as a safe haven.”
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