Silver imports in Kuwait surge by 451%

Tariq Araabi

Silver imports in Kuwait witnessed a remarkable and unprecedented surge in 2025 compared to 2024, reflecting a notable shift in the behavior of both consumers and investors.

According to data released by the Ministry of Commerce and Industry, the quantities of silver weighed and hallmarked by the ministry’s Precious Metals Department recorded a substantial jump of 451%, driven by record-high gold prices and growing awareness of silver as a safe and alternative investment instrument.

Based on these data, hallmarked silver volumes rose from 15.9 million grams in 2024 to approximately 87 million grams in 2025. This massive growth likely reflects large-scale commercial inflows and a sharp increase in local demand for this white metal, whether in the jewelry and adornment sector or in investment-grade bullion.

According to experts and economic analysts, this record rise in silver prices is attributable to the successive jumps recorded in gold prices globally and locally over the past period. As the yellow metal reached price levels that exceeded the purchasing power of broad segments of small investors and consumers, attention turned strongly toward silver as an ideal alternative investment, historically referred to as “the poor man’s gold.” Silver has thus become a genuine investment tool and an excellent hedge against inflation. Many prefer purchasing silver bullion due to its lower price value compared to gold, which allows greater flexibility in buying and liquidating in various quantities and weights.

This import boom places a dual responsibility on the Precious Metals Department of the Ministry of Commerce and Industry, which has successfully managed to absorb these large inflows and ensure their precise inspection, weighing, and hallmarking to protect consumers and guarantee that the supply meets official specifications and standards.

This resurgence underscores the success of the regulatory infrastructure in keeping pace with rapid changes in the precious metals market within Kuwait. It also highlights that the 451% jump recorded by silver in 2025 indicates it has entered the map of investment interests in the local market, demonstrating that the prevailing investment culture has become more dynamic in dealing with crises and price fluctuations in precious metals.

It is worth noting that the price of one ounce of silver currently stands at $66.24 per ounce (September 2026), while recording a notable annual increase of approximately 53.75% compared to the previous year, despite some short-term volatility. Prices ranged over a wide band, reaching a low of around $36 and a high of historic record levels exceeding $121 in early 2026.