Kuwaitis Lead Charge in Gold Demand Despite Record Prices

Kuwait consumers demonstrated their resilience in the face of record-high gold prices by purchasing a significant amount of gold during the first half of 2026. According to the World Gold Council's Gold Demand Trends report, Kuwaiti buyers acquired 8.2 tons of gold, driven primarily by investment demand. This strong showing was part of a larger trend, with global gold demand reaching 1,269 tons in the second quarter and 2,522 tons for the first half.

The majority of the gold purchased by Kuwaitis was in the form of gold bars and coins, which accounted for 4.2 tons. This is indicative of a growing preference for investment-grade gold among consumers. In contrast, jewelry demand remained relatively weak, with purchases of gold jewelry totaling 4 tons.

The World Gold Council attributed the strong demand for gold bars and coins to ongoing geopolitical tensions and economic uncertainty, which have led investors to seek safe-haven assets. Global gold production also remained robust, reaching a record 966 tons in the second quarter and 1,867 tons for the first half.