With the global “Al-Nafis” losing about $15 after two sessions of rising. The gold price fell today in Morocco, Thursday, September 29, 2022,
The declines come after the Moroccan Central Bank surprised the markets by raising the interest rate by 50 basis points, to reach 2%, with the aim of ensuring price stability amid rising inflation.
In a statement after its weekly meeting, the bank expected that inflation would rise to 6.3% in 2022 from 1.4% in 2021 against the backdrop of rising fuel prices in global markets, before declining to 2.4% in 2023.
The bank also expects economic growth to fall to 0.8% this year from 7.9% in 2021 after the worst drought in decades, according to Archyde.com.
The price of a gram of 24-carat gold today in Morocco, during evening trading, fell to about 587.01 dirhams ($53.05), according to the gold-price-today platform for monitoring gold prices.
And the price of a gram of 21 karat gold fell today in Morocco (the most traded in the market), to about 513.65 dirhams ($ 46.42).
The price of a gram of 18 karat gold today in Morocco also fell to the level of 440.27 dirhams ($ 39.79).
As for economic gold prices today in Morocco, the price of a gram of 14 karat gold remained at the level of 342.43 dirhams ($ 30.95).
The price of an ounce and a pound of gold in Morocco
And the price of an ounce of gold today in Morocco, during evening trading, decreased to about 18,256 thousand dirhams (1650 dollars).
Morocco reduces unemployment, a noticeable decline
While the price of the gold pound today in Morocco (8 grams of 21 karat) reached about 4,109 thousand dirhams (371.37) dollars.