On Tuesday, October 14, gold prices in Morocco and globally reached a new record high amid renewed trade tensions between the United States and China, creating uncertainty and boosting demand for safe-haven assets.
Expectations of lower U.S. interest rates also supported price increases. Gold in spot transactions rose 0.4% to $4,124.79 per ounce, after previously hitting a record level of $4,131.52 during the session.
U.S. gold futures for December delivery increased by 0.3% to $4,143.10.
Gold has surged by 57% since the beginning of the year, surpassing the $4,100 mark for the first time on Monday, October 13, driven by geopolitical and economic anxieties, forecasts of interest rate cuts, substantial purchases by central banks of the yellow metal, and inflows into exchange-traded funds.
### Prices in Morocco
On Tuesday, October 14, gold prices in Morocco saw a significant increase across all categories, with the price of 24-carat gold reaching approximately 1,214.00 dirhams per gram. The price for 21-carat gold rose to 1,062.50 dirhams, while the price of a gold ounce hit around 37,764.00 dirhams.
The price of 18-carat gold, the type most commonly used by Moroccans for jewelry, also increased to 910.50 dirhams per gram. This rise coincides with a general upward trend affecting various gold categories in Moroccan markets.
### Silver and Other Metals
In spot transactions, silver rose by 0.3% to $52.49 per ounce, after reaching $52.70 earlier in the day.
Other precious metals showed gains as well, with platinum increasing by 0.5% to $1,653.45 per ounce, while palladium rose by 1.6% to $1,498.25, marking its highest level since May 2023.
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