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Source:
الوطن
Gold jewelry sales drop by 23 percent
Gold prices surged to a record high, leading to a 23% decline in demand for new gold jewelry during the first quarter of 2026. Consumers most likely took advantage of the lower-cost option of buying pre-owned pieces and reducing manufacturing costs. Data showed that worldwide demand for gold jewelry decreased to around 299.7 tons, while the total value of demand increased by 31% due to rising prices. In the Saudi market, demand for gold jewelry dropped to 11.2 tons from 14.6 tons the previous year, although demand for bars and coins increased by 15%. Buying used jewelry remains a more attractive option because manufacturing fees are lower, with buyers paying only for the gold’s value. This shift reflects changing consumer behavior and the success of gold as a form of savings amid rising costs.
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