Egypt's Gold Market Shifts as Investment Demand Outpaces Jewelry
Egypt's gold market is undergoing a significant shift in its demand patterns, driven by changing consumer motivations and higher prices. According to World Gold Council data, Egyptians purchased approximately 22 tonnes of gold during the first half of 2026, with an increase in investment and savings gold purchases.
The data shows that while jewelry demand declined to 4.9 tonnes in Q2 2026, a 14% decrease from the same period last year, there was a significant rise in investment products, which outpaced jewelry in the second quarter. However, this shift does not mean that demand for jewelry has stopped entirely.
Afrio Gold's Chairman Emad Saad noted that higher gold prices and weaker purchasing power have made it essential to offer products in various weights to meet different consumer segments' needs. He stated that consumers are looking for products that match both their financial capacity and purpose for buying gold, whether for personal use or savings.