Moroccans turn to gold as safe haven investment

Jewelry Craftsmanship and Market Trends in Rabat

In the heart of Rabat's old city, numerous gold jewelry shops showcase a diverse collection of traditional and modern pieces. Jeweler Abdellatif Alaoui has been in the industry since 1992, displaying meticulously crafted items such as brooches, bracelets, rings, belts, and earrings. These designs cater to a variety of tastes and are typically purchased for special occasions, including weddings, engagements, and naming ceremonies.

Traditional gold jewelry is characterized by its large size and intricate decorations, appealing to those seeking investment opportunities. Modern designs, on the other hand, are contemporary and more affordable, often preferred by younger customers. Alaoui's displays target both buyers interested in adornment and those considering gold as an investment.

Gold has maintained its status as both a tradition and a secure investment in Morocco. Over the past six months, gold prices have increased significantly. The price of 24-karat gold rose from €120 to €170 per gram, while 18-karat gold increased from €110 to €150 per gram, as reported by Mohammed Jbara, President of Rabat Traditional Gold and Silver Craftsmen's Association. This price rise has influenced purchasing habits, with a growing preference for traditional designs containing more gold.

In the workshop of craftsman Hassan Gounzi, 24-karat gold is precisely alloyed with silver and copper to create 18-karat gold. The production process involves melting, flattening, and cutting the gold, requiring significant precision and skill at each step. The time to create each piece ranges from three hours to 20 days, depending on complexity. The final pieces are polished and washed before being displayed.

Regional Preferences and Cultural Significance

Purchasing preferences vary by region; northern areas favor gold, while southern regions prefer silver. At weddings, gold is traditionally given to the bride, enhancing her status based on the amount received.

Based on reporting by Africanews.