8.2 tons of gold purchases in Kuwait during the first half

Decline in Jewelry Demand, Offset by Rise in Bullion Demand

Gold demand in Kuwait fell by 2.38% year-on-year during the first half of 2026, weighed down by a drop in jewelry purchases, which was partially offset by increased demand for bullion and coins.

According to a report from the World Gold Council, Kuwaiti purchases of gold—spanning jewelry, bullion, and coins—totaled 8.2 tons in the first six months of the current year, compared to 8.4 tons in the first half of 2025.

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Kuwaiti purchases in the first half of 2026 were distributed between 4.2 tons of bullion and coins, and 4 tons of jewelry. This breakdown comprised 3.6 tons in the first quarter and 4.6 tons in the second quarter (jewelry and bullion).

According to "Mubasher Info" statistics, Kuwaiti gold purchases during 2025 declined by 7.07%, or 1.3 tons, year-on-year, to reach 17.1 tons. This marks the lowest level since 2021 (a four-year span), compared to 18.4 tons in 2024.

Jewelry Demand

Statistics revealed that gold demand in Kuwait was affected by a 21.57% drop in investor appetite for jewelry during the first half of the current year, falling to 4 tons from 5.1 tons in the corresponding period of 2025.

The report noted that jewelry demand in Kuwait fell by 18.52% year-on-year, reaching approximately 2.2 tons in the second quarter of 2026, compared to 2.7 tons in the same quarter of the previous year. Notably, demand also dropped by 25% in the first quarter to 1.8 tons.

Bullion and Coins

Kuwait’s demand for bullion and coins totaled approximately 4.2 tons in the first six months of 2026, representing a 27.27% increase from the 3.3 tons recorded in the first half of the previous year.

Kuwaiti purchases were distributed as 1.8 tons in the first quarter of the current year and 2.4 tons in the second quarter. Demand rose by approximately 28.57% and 26.32% in the first and second quarters, respectively.

Global Demand

In the same context, the World Gold Council report indicated that global gold demand across various instruments—including over-the-counter trading—remained stable at 1,269 tons in the second quarter of the current year. Consequently, total demand for the precious metal in the first half of the year reached 2,522 tons, a 2% annual increase, with a record value of $380 billion.

The report pointed out that exchange-traded funds (ETFs) faced selling pressure in the second quarter. Moderate outflows were a response to declining gold prices, particularly in North America, alongside upward revisions to inflation and interest rate expectations, as well as the strengthening of the US dollar.

The report forecasted that investment would remain the primary driver of gold demand growth in the second half of the year. It noted that central banks are still on track for another strong year, although likely less robust than 2025, and that jewelry sales volumes would remain under pressure due to high gold prices.