In 2025, gold remains at the center of global economic discussions, attracting both institutional investors and individuals in search of stability. Having reached all-time highs in 2024, peaking at $2,790 an ounce in October, gold continues to play a crucial role in a context marked by economic and geopolitical uncertainties. But what about the outlook for 2025? Forecasts by major financial institutions and market dynamics offer food for thought on the future of this precious metal.
Historically, gold has stood out as a safe-haven asset in times of turbulence. In 2024, the tense geopolitical context - with the escalation of the Israeli-Palestinian conflict and the continuing uncertainties surrounding the war in Ukraine - led many investors to turn to this metal to protect their wealth. This influx of capital led to a significant increase in the price of gold, which rose by almost 30% over the year. In Morocco, gold continues to be a preferred option for savers seeking to diversify their investments. Traditional products such as bars and coins remain popular, but interest in shares in mining companies is beginning to grow. This diversification provides access to gold price trends without necessarily owning the physical metal, a strategy that is particularly relevant in a volatile market. Gold remains the solution of choice for cautious investors.
“ Although traditional products such as real estate or mutual funds offer direct returns, gold is a strategic asset in times of crisis”, says an investment advisor. With the possible depreciation of the dirham against foreign currencies, Moroccan investors could turn more to this precious metal, both in its physical form and through dematerialized investment products. In addition, the evolution of gold prices could influence the behavior of Moroccan importers and jewelers, who adjust their strategies in line with international fluctuations. The evolution of gold prices could also boost the appeal of paper gold, a product that is still under-exploited in the Kingdom, but which offers interesting diversification potential.
The outlook for gold in 2025 remains largely optimistic internationally. Goldman Sachs expects the price to reach $2,900 an ounce in the first half of the year, while JP Morgan forecasts a ceiling of $2,850. Bank of America is even more confident, estimating that the symbolic $3,000 threshold could be crossed before the end of the year.
Fédoua Tounassi
