Morocco’s jewellery sector is feeling the strain as soaring global gold prices push the cost of the precious metal beyond the reach of many customers, leaving artisans and traders struggling to stay afloat. Gold, long cherished in Moroccan culture for weddings, celebrations and savings, has become increasingly difficult to sell as its price continues to climb to record levels on the international market.
Across cities and traditional markets, jewellers say foot traffic has slowed noticeably, with customers postponing purchases or opting out altogether. Pieces that once sold quickly now remain in display cases, while workshop owners battle rising costs and shrinking profits. For many small traders who rely on steady turnover to survive, the sharp increase in gold prices has disrupted their entire business cycle.
Industry players point to global uncertainty, geopolitical tensions and currency fluctuations as key drivers behind the price surge, factors that have made gold attractive to investors worldwide. But while gold’s appeal grows in financial markets, its impact on local jewellers has been far less positive. The high cost of raw materials has made restocking difficult, forcing some workshops to scale back production, explore lighter designs or temporarily shut their doors.
The situation highlights a growing disconnect between global market trends and local realities. In a country where gold is deeply tied to tradition and social life, rising prices are reshaping buying habits and putting pressure on livelihoods that have been passed down through generations. For Morocco’s jewellery sector, the challenge now is adapting to a market where gold’s value continues to rise, but demand at home is increasingly out of reach.
