Gold prices in Morocco rose today, Thursday, June 24, 2021, in conjunction with the increase in the prices of the precious metal globally.
The price of a gram of 24 karat gold in Morocco increased to 510.63 dirhams ($ 57.32), compared to 509.39 dirhams ($ 57.12).
And a gram of 21 karat gold in Morocco (the most traded in the Kingdom) rose to 446.81 dirhams ($ 50.16) compared to 445.73 dirhams ($ 49.98), yesterday.
A gram of 18 karat gold also increased to 382.98 dirhams ($ 42.99), compared to 382.05 dirhams ($ 42.84) yesterday.
As for economic gold prices in Morocco, the price of a gram of 14 karat gold scored about 297.87 dirhams ($ 33.44) compared to 297.14 dirhams ($ 33.32), yesterday.
And the price of a gram of 12-carat gold scored about 255.32 dirhams ($ 28.66), compared to 254.69 dirhams ($ 28.56), yesterday.
Gold price per ounce and pound
The price of an ounce (an ounce) in Morocco recorded, during Thursday’s trading, about 15881 dirhams (1783 dollars), while the price of the gold pound in Morocco (8 grams of 21 karat) increased to 3575 dirhams ($ 401.28), compared to 3.566 thousand dirhams (399.82). dollars), at the close of trading yesterday
global gold prices
Gold prices rose on Thursday, after being pressured by the stability of the dollar, while investors sought to pass mixed signals from the US Federal Reserve on raising interest rates and awaited more economic data in the United States to gauge the extent of inflationary pressures.
And gold rose in spot transactions from 1774.32 dollars an ounce (an ounce) by 0452 GMT. to about 1784.08 by 11:39 GMT.
The dollar index settled higher near its highest level in 11 months against its rivals.
“In the absence of a clear direction, contradictory ideas coming from Federal Reserve officials, and new news, I expect gold to continue its volatile trading in a limited range,” said Jeffrey Haley, senior market analyst at Oanda.
Two Fed officials said on Wednesday that the period of high inflation in the United States may last longer than expected, a day after Chairman Jerome Powell played down inflation concerns and indicated that interest rates would not rise too quickly.
But Atlanta Fed President Rafael Bostic expects an increase in interest rates will be needed in late 2022 as inflation exceeds the Fed’s 2% target.
Gold is usually considered an inflation hedge, but the Fed raising interest rates increases the opportunity cost of holding the non-yielding yellow metal.
Investors are now turning their focus to US producer price inflation data due on Friday, other than unemployment benefits expected later in the day. US non-farm payrolls data is due next week.
As for other precious metals, silver settled at $25.85 an ounce, and palladium gained 0.2%, rising to $2617.86. And platinum fell 0.7% to 1076.14 dollars.