Egypt's gold demand hits 22 tons in early 2026

Egyptians' gold purchases during the first half of 2026 totaled approximately 22 tons, including 11.9 tons of bars and gold coins, and 10.1 tons of gold jewelry. In the second quarter of the year, demand for gold jewelry declined by 14% compared to the previous year, reaching 4.9 tons. Meanwhile, purchases of bars and coins increased by 6% to 6.2 tons. The decline in demand for jewelry indicates the impact of high inflation and currency fluctuations, while the rise in demand for bars reflects Egyptians' tendency to save and invest in gold. The demand for gold bars and coins surpassed that of Egypt in the second quarter of 2026, exceeding the levels seen in Saudi Arabia, the UAE, and Kuwait.

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