Gold (jewellery, bar & coin) demand in Egypt (2010–2024)

Key Takeaways

  • Jewellery demand made up 81.35% of Egypt’s total gold demand between 2010 and 2024.
  • The highest jewellery demand was recorded in 2010 at 53 tonnes, and no year since has reached that level.
  • Jewellery demand declined by 50.75% between 2010 and 2024.
  • Bar and coin demand saw a sharp 700% increase between 2021 and 2022.
  • In 2023, bar and coin demand hit a record high of 30.3 tonnes and, for the first time, exceeded jewellery demand.
  • Overall, bar and coin demand rose by 943.48% between 2010 and 2024.

Egypt's long-standing passion for gold is changing drastically. Although the allure of conventional gold wedding jewellery has diminished, with demand dropping by 50.75% since 2010, a new gold rush is underway. The demand for gold bars and coins has exploded by almost 1,100% between 2021 and 2023 alone, as Egyptians are increasingly grabbing them for financial protection. This signifies the transformation of gold from a treasured cultural icon to a vital financial resource.

Source:

World Gold Council

Period:

2010-2024
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