Saudi Arabia Rises as Key Gold Market Amid Global Uncertainty
The World Gold Council's Head of Middle East and Public Policy, Andrew Naylor, believes Saudi Arabia is strengthening its position as a key market in the region.
The Kingdom has emerged as one of the markets undergoing rapid transformation in the gold sector due to growth in investment and consumer spending, as well as expansion of tourism and financial activity.
Naylor noted that global gold demand reached about 1,269 tons in the second quarter of 2026, with a record value of around $380 billion. The metal's average price under the London benchmark reached $4,506 per ounce in the same period, a significant increase from last year.
The World Gold Council's Head said gold's importance has increased amid continued geopolitical and economic uncertainty worldwide, noting that investors are not reacting only to individual events but to an environment characterized by growing and persistent risks.