Gold prices in Morocco rose during trading this evening, Saturday, September 4, 2021, coinciding with the weekly holiday of the precious metal markets globally.
The price of a gram of 24 karat gold was about 524.46 dirhams ($ 58.80), and the price of a gram of 21 karat gold in Morocco was about 458.92 dirhams ($ 51.45).
And the price of a gram of 18 karat gold in Morocco rose to about 393.35 dirhams ($ 44.10).
As for economic gold prices in Morocco, the price of a gram of 14 karat gold scored about 305.94 dirhams (34.30 dirhams).
While the price of a gram of 12-carat gold in Morocco was about 262.23 dirhams (29.40 dollars).
Gold price per ounce and pound
The price of an ounce of gold in Morocco was about 16,311 dirhams (1829 dollars).
The price of the gold pound in Morocco reached 3671 dirhams ($411.59).
global gold prices
Gold prices rose on Friday (the closing of the week’s trading), supported by the weakness of the dollar, while investors awaited US jobs data to learn about the Federal Reserve’s plans to start reducing asset purchases.
And gold rose in spot transactions 0.2% to $ 1812.97 an ounce (an ounce) by 0641 GMT, and fell 0.2% for the week.
US gold futures rose 0.2% to $1814.80.
The dollar index is hovering near the bottom of a month, which enhances the attractiveness of gold to holders of other currencies. The US currency is heading for a decline for the second week in a row.
“We’re seeing little upfront positioning of people who might want to buy to take advantage of the NFP,” said Stephen Innes, managing partner at SBI Asset Management.
He added that the issuance of a weak number “would be very positive for gold, because it reinforces the more cautious expectations (of Jerome) Powell, Chairman of the US Federal Reserve… We may see a drop below the $1800 threshold if we get a strong reading.”
Ahead of the Labor Department’s report on US non-farm payrolls due on Friday, data revealed that the number of Americans filing for unemployment benefits for the first time fell last week, while layoffs fell to their lowest level in more than 24 years in August.
Powell said last week that if job growth continued, the central bank might start reducing its asset purchases this year, but would still be cautious in deciding whether to raise interest rates.
While gold is considered a hedge against inflation and currency instability caused by unprecedented stimulus measures, lower interest rates also reduce the opportunity cost of holding the non-yielding yellow metal.