Gold Price Drop Sparks Wedding Season Boom for Moroccan Jewelers

The recent rise of the dollar and Donald Trump’s decision to keep Jerome Powell in his position as Chairman of the Federal Reserve have led to a drop in the price of gold on international markets. A drop that seems beneficial for Morocco, as a net importer of the precious metal, analyzes L’Économiste, specifying that it allows to reduce the cost of imports for jewelers and certain industries and offers the possibility for craftsmen to improve their margins by adjusting their prices to stimulate demand.

However, warn experts from Goldmarket, "the dollar and gold play a kind of seesaw: when the dollar rises, gold falls and vice versa," explaining that the strength of the dollar can affect the cost of Moroccan imports in dollars. Moreover, the fact that transactions on the Moroccan market are carried out directly in foreign currency could weaken purchasing power in the face of exchange rate fluctuations. This drop in prices also risks causing a slight erosion of the savings of Moroccan households.

This drop is not enough to guarantee a sustainable stability of the gold price, point out the experts, calling for caution. But it could have a positive effect on the price of the precious metal in Morocco, thus helping to support demand in the jewelry and craft sectors, particularly for traditional jewelry highly prized during weddings and celebrations. The drop in the value of gold also has a limited impact on national reserves, held in part by Bank Al-Maghrib.

Moreover, the slight increase in silver and platinum benefits certain industrial sectors, even if their weight remains limited. Nevertheless, gold retains its status as a preferred investment. According to the "Affluent Investor Snapshot 2025" report by HSBC, gold remains a highly prized metal. The share of gold in alternative asset portfolios has more than doubled, and 41% of investors surveyed plan to strengthen their position in the coming months.