Egypt's Gold Market Shifts as Consumers Favor Investment Over Jewelry

Egypt's gold market is experiencing a shift in demand patterns due to changing consumer motivations and higher prices. According to the World Gold Council, Egyptians purchased approximately 22 tonnes of gold during the first half of 2026, with bars and coins outperforming jewelry.

The latest data from the WGC shows that while jewelry demand declined by 14% year-over-year in the second quarter, purchases of gold bars and coins rose by 6%. This trend is attributed to consumers becoming more price-sensitive and favoring products with lower additional costs.

Emad Saad, Chairman of Afrio Gold, noted that higher gold prices and weaker purchasing power have made it essential to offer a wider range of weights to meet the needs of different consumer segments. He also stated that current price levels may offer a buying opportunity amid continued consumer interest in gold as a store of value.