Gold prices fell in Morocco, today, Thursday, October 28, 2021, affected by the global anticipation of the monetary policies of central banks.
Gold price today in Morocco
The price of a gram of 24 karat gold in Morocco decreased during Thursday’s trading, to record about 523.33 dirhams ($ 57.96), compared to 523.72 dirhams ($ 57.71) at the close of trading yesterday, Wednesday.
The price of a gram of 21 karat gold in Morocco (the most traded in the market) fell to 457.93 dirhams ($ 50.72), compared to 458.27 dirhams ($ 50.50) on Wednesday.
The price of a gram of 18 karat gold in Morocco fell, Thursday, to about 392.51 dirhams ($ 43.47), compared to 392.80 dirhams ($ 43.28) at the close of trading on Wednesday.
As for economic gold prices in Morocco, the price of a gram of 14 karat gold scored about 305.28 dirhams ($ 33.81), and the price of a gram of 12 karat gold recorded about 261.67 dirhams ($ 28.98).
Gold price per ounce and pound
The price of an ounce in Morocco fell during Thursday’s trading, to record about 16,276 thousand dirhams (1783 dollars), compared to 16,288 thousand dirhams (1795 dollars) at the end of trading yesterday, Wednesday.
The price of the gold pound in Morocco (8 grams of 21 karat) fell today, Thursday, to 3663 dirhams ($ 405.76), compared to 3666 dirhams ($ 403.96) yesterday.
Gold prices today
Gold prices consolidated just above $1,800 an ounce on Thursday, supported by lower yields on US bonds, while investors focus on how central banks are responding to higher price pressures.
By 0727 GMT, spot gold rose 0.3% to $1,802.40 an ounce. US gold futures rose 0.3% to $1,803.90 an ounce.
Investors are awaiting the European Central Bank’s monetary policy meeting on Thursday, followed by the Federal Reserve’s meeting (the US central bank) on November 3.
Gold is usually considered a hedge against inflation, although reducing stimulus and raising interest rates pushes the yield on government bonds to rise, which reduces demand for the precious metal.
precious metals prices
As for other precious metals, platinum increased 0.6% to $ 1016.77 an ounce. And palladium rose 1.3 percent to $ 1990.23 an ounce.
And silver rose in spot transactions 0.1% to $ 24.06 an ounce.
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