Gold prices drop globally despite Iran conflict; could prices decrease further in Morocco?
Gold prices experienced a global decline today, Thursday, July 16, 2026, with an ounce of gold dropping by 0.6% to reach $4,034.42. Other precious metals also fell, including silver which decreased by 1.1% to $57.14, platinum down by 0.6% to $1,664, and palladium slipping by 0.3% to $1,309.86. Despite tensions in the Middle East, the decrease in gold prices reflects ongoing global market influences and is likely to lead to a gradual drop in local prices in Morocco, which are affected by the dollar exchange rate, import costs, and profit margins in jewelry-making.
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