Consumer demand for gold in Egypt dips 17% YoY in Q3

Updated 10/31/2023 9:23:00 AM
Consumer demand for gold in Egypt dips 17% YoY in Q3

Arab Finance: Consumer demand for gold in Egypt accounted for 12.9 tons in the third quarter (Q3) of 2023, down 17% from 15.5 tons over the same period of 2022, according to data from the World Gold Council.

The data indicated that demand for gold bars and coins in the North African county slipped by 4% year on year (YoY) in the July-September period to 6.3 tons, compared to 6.5 tons.

In Q3 2023, Egyptians bought 6.6 tons of jewelry, a 27% annual drop from 9 tons in Q3 2022.

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