Amid the profound economic transformations witnessed in recent years, gold in Egypt has shifted from being merely a form of adornment to a “protective shield” for savings. Data reveal a remarkable change in Egyptian consumer behavior, with a growing and unprecedented preference for “investment gold” — bullion bars and coins.
A Structural Shift in Consumption Patterns
Data indicate that Egyptians’ purchases of gold bars and coins have experienced an explosive surge, becoming clearly evident as demand moved from historically low levels — ranging between 0.5 and 0.7 tons per quarter — to record highs exceeding 10 tons in certain periods.
Experts attribute this trend to several key factors:
Inflation hedging: A desire to preserve purchasing power.
Exchange rate volatility: Driving citizens to seek a safe and highly liquid store of value.
Rising investment awareness: As gold jewelry lost appeal due to high manufacturing costs, while bullion gained favor for its lower premiums and ease of resale.
The “Big Five”: Egypt’s Highest Periods of Bullion Demand
According to data from the World Gold Council, the following are the top five quarterly periods during which Egypt recorded its highest purchases of gold bars and coins:
First place (historic peak): 10.4 tons in Q2 2023 — the highest figure on record, reflecting an extreme surge in buying activity.
Second place: 8.1 tons in Q1 2023, as strong momentum continued amid expectations of rising global and local prices.
Third place: 7.6 tons in Q2 2024, a period marked by sharp volatility that pushed investors toward gold.
Fourth place: 7.4 tons in Q4 2025, indicating sustained demand at exceptionally high levels compared to previous years.
Fifth place: 6.5 tons in Q3 2022, when early signs of the major shift from jewelry purchases to raw gold began to emerge.
What the Numbers Tell Us
World Gold Council data point to a qualitative leap in demand, rising from an average of 0.6 tons to 3.5 tons, before doubling again to reach 10.4 tons.
This growth — exceeding 1,600% — underscores that gold is no longer a luxury item, but rather a core component of household savings portfolios in Egypt.
With global gold prices reaching record highs in early 2026, analysts expect demand levels to remain elevated as long as geopolitical and economic pressures continue to dominate market dynamics.
While Egyptians were purchasing no more than 0.5 tons of gold just a few years ago, 2023 fundamentally changed the rules of the game.
This structural transformation has effectively positioned gold as the “true currency” for savers, helping explain why total global spending on gold has reached $172 billion. Consumers are no longer seeking ornamentation — they are seeking wealth preservation in a world marked by polarization and persistent geopolitical risk.
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