Rabat – Gold and silver prices fell on Wednesday as global markets reacted to the ongoing war in the Middle East and tighter financial conditions.
Silver led the decline, dropping 5.5% on the Multi Commodity Exchange (MCX), while gold lost around 1.6%. The sell-off followed strong remarks by US President Donald Trump on Iran, which raised concerns over regional stability and triggered volatility across commodities and currencies.
Rising crude oil prices, higher US bond yields, and a stronger dollar added further pressure on precious metals, reducing their traditional appeal as safe-haven assets. The trend was also visible in international markets, where spot prices for gold and silver moved lower.
For Morocco, these shifts have direct implications. Although gold is priced in dollars on global markets, local rates , commonly tracked through the retail jewelry market and informal gold trade, tend to follow global benchmarks while factoring in currency fluctuations and local demand.
In global trading, gold is currently moving within a fragile range. Prices are facing resistance around the $4,700 to $4,750 level, with limited upward momentum despite ongoing geopolitical risks.
On the downside, key support sits near $4,650, and a break below this level could lead to further declines toward the $4,500 range.
The broader trend remains cautious. Analysts note that while geopolitical tensions often support gold, the current environment is being driven more by financial factors, particularly the strength of the US dollar and rising yields, which continue to weigh on prices.
In Morocco, this means gold prices may remain under pressure in the short term, although local variations can occur depending on demand, especially in traditional markets where gold remains a key medium for savings and jewelry.
For now, the international outlook suggests continued volatility, with Moroccan buyers and investors likely to remain attentive to global price movements in the days ahead.
