The Rise in Gold Prices in Morocco Before the 2030 World Cup
In Morocco, gold is regarded as one of the most valuable financial assets, offering significant long-term returns. Since the country achieved notable success in the World Cup in Qatar, the price of gold per gram has risen considerably. the adverse effects of the COVID-19 pandemic, Morocco tourism sector has seen a remarkable recovery.
Looking ahead, gold prices in Morocco are anticipated to rise significantly in the coming years, especially in the local market, potentially aligning with the increases observed in Egypt's gold prices recently.
Current Gold Prices in Morocco
In a previous article [link], we explored the trend of gold prices in Morocco from the 1970 to the present. We found that, despite a decline in international raw gold prices, local gold prices in Morocco have not dropped. This stability can be attributed to several factors, primarily the limited availability of raw materials for gold production in the country. It is expected that gold prices in Morocco will keep climbing, even if global raw gold prices fall, due to these and other factors we will discuss in this article.
Key Factors Driving Gold Value Up in Morocco
The strong value and popularity of gold in Morocco make it a reliable investment and a safe haven for many. Additionally, global inflation, which affects both the world and Morocco, plays a significant role in driving up gold prices. Geopolitical issues, such as the potential for conflict between Iran and Israel, as well as tensions involving Europe, America, and Russia, are also crucial factors that will elevate the global value of raw gold and increase its price and scarcity in Morocco.
Furthermore, Morocco's efforts to fully liberalize the dirham will raise concerns among citizens regarding their financial assets, prompting many to invest in gold, which will further enhance its local value.
The resurgence of the tourism sector and the handicraft industry in Morocco, particularly with the upcoming Africa Cup and FIFA World Cup, will also play a part in boosting gold's value. All these factors, among others, are set to drive gold prices higher in Morocco, establishing it as the leading financial asset with a strong profit potential over the next decade.
Technical analysis for Gold Prices on 2030
Technically, as shown in the chart below, gold prices are expected to reach $5,000 per ounce by 2030 after breaking the last historical peak of $1,965.
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| The Increase in Gold Prices in Morocco Ahead of the 2030 World Cup |
Key Reasons for the Rise in Gold Prices in Morocco in 2030
- Stability of Local Gold Prices in Morocco for Decades
- Inflation and Rising Prices in Morocco
- The Possibility of a War Between Israel and Iran
- Full Liberalization of the Dirham in Morocco
- Revival of Tourism in Morocco and the Handicraft and Jewelry Industries
- Hosting the World Cup in 2030
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