Demand for gold bars and coins in Egypt

Despite the decline in demand for gold bars and coins in Egypt in the third quarter of this year, this is only a temporary decline.

When we look at the total demand for the three quarters of this year and compare it to the same period last year, we will find that demand for gold bars and coins in Egypt has increased by 23%.

Egyptians purchased 6.3 tons of gold bars and coins in the third quarter of 2023 alone.

Demand for gold jewelry in Egypt

Demand for gold jewelry in Egypt

Demand for gold jewelry in Egypt declined in the third quarter of 2023, falling by 4.34% from the previous quarter.

This is likely due to the economic pressures that the country is facing at the moment, which are causing consumers and investors to spend their money more cautiously.

When we look at demand for gold jewelry over the three quarters of last year and compare it to the same period this year, we will find that demand has declined by 14.6%. This suggests that there is an increase in investment awareness in the Egyptian market.

Egyptians purchased 6.6 tons of gold jewelry in the third quarter of 2023 alone.

In conclusion, the total gold purchases by Egyptians in the third quarter of 2023 amounted to approximately 13 tons of gold, including jewelry, bars, and coins. This places Egypt in third place among the largest gold buyers in the Middle East in the third quarter of 2023.