Gold prices plunge globally, but Moroccan jewelers slow to pass on declines - HESPRESS English - Morocco News

AI desk brief

Gold sold off sharply, with spot down 3.5% to $3,880.97/oz and US December futures off 3.3% to $3,898.90, as investors sold bullion to meet margin calls after heavy tech-stock losses and renewed AI concerns. Silver, platinum and palladium also weakened in the broader liquidation.

In Morocco, the indicative price of raw 18-carat gold eased only modestly to about MAD 1,020/g, down MAD 17 or 1.64% from Friday, far less than the global move. Local traders said domestic prices are lagging international quotes because inventory, supplier pricing and weak retail demand are slowing pass-through; some industry estimates see another MAD 20-30/g downside by midweek if global weakness persists.