In Morocco, jewelers are struggling to sell their products. Customers are being deterred by the rising price of gold on the markets.
“We have difficulty selling our products, especially during the purchasing process. Women find it very expensive, really very expensive, 1,600 dirhams for a single gram. Before, some women in difficult financial situations would choose a piece of jewelry and pay for it in installments. Each month, they would come and pay a small amount, for example, 1,000 dirhams, and when they had saved the full price of the piece, they would collect it. It was as if we were giving them credit. Today, this is no longer possible because the price of gold is not stable,” explains Mouhcine Baydi, a trader.
Analysts point out that factors such as currency volatility, inflationary fears, and geopolitical tensions are contributing to this upward trend.
Maroua Benkiran owns a jewelry store and is now struggling to sell her products: "The price of gold has never been so high, and even selling has become very difficult for us. Indeed, we agree on a price with the customer, but when he comes back, he finds that the price has changed and he gets angry," she explains.
Financial experts recommend that individuals stay informed about market trends and exercise caution before making significant investments in gold.
