According to data from the World Gold Council, consumer demand for gold in the United Arab Emirates surged by 32% in the third quarter of this year, from 10.1 tonnes to 13.4 tonnes, compared to the same period last year. In contrast to the 15.4 tonnes in the second quarter of the year, the consumer demand for gold fell by 13% in the third quarter, according to the Gold Council’s separate report.
In the third quarter of this year, the demand for gold and gold jewellery in the Emirates rose by 30%, reaching 10.
7 tonnes, down from 8. 2 tonnes in the same quarter of 2021, and the research revealed that the third-quarter demand for gold bars and currency in the Emirates climbed by 40% annually. 2. 6 tonnes were produced from the year, up from 2. 2 tonnes at the same time last year.
The nation’s demand for gold bars and coins reached its highest levels since 2015 last year, rising by 7. 7 tonnes, as opposed to 5.
2 tons in the previous year, and the per capita share of consumer demand for gold in the UAE reached 4. 4 grams per person, compared to 2. 9 grams in 2020, to exceed the levels of 2019 amounting to 4. 1 grams.
According to the research, there was a 28% increase in global demand for gold during the third quarter of 2022 that ended in September, totaling 1181 tonnes.
In the third quarter, demand for gold in the United Arab Emirates increased 32%.
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