Saudi Arabia gold purchases hit 15.4 tons in 2024: Report

Riyadh city

Gold bullion and coin purchases in Saudi Arabia rose by 9% year-on-year to 15.4 tons in 2024, the World Gold Council reported.

Demand increased for four straight years, with 2024 purchases hitting the highest level since 2014.

Saudi Arabia’s Gold Bullion and Coin Purchases Since 2010
Year	Volume (Tons)	Change (%)
2010	14.55	--
2011	17.71	22%
2012	16.93	(4%)
2013	18.30	8%
2014	15.65	(14%)
2015	14.92	(5%)
2016	10.81	(28%)
2017	9.93	(8%)
2018	10.18	3%
2019	8.84	(13%)
2020	8.40	(5%)
2021	10.90	30%
2022	12.20	12%
2023	14.13	16%
2024	15.37	9%

Global gold bar and coin purchases fell 0.2% in 2024 to 1,186.3 tons, down from 1,189.8 tons in 2023.

The US led global gold reserves at 8,133.5 tons by year-end, making up 75% of its total international holdings.

Saudi Arabia holds 323.1 tons, or 6% of its reserves, ranking 18th globally and first in the Arab world.

Top Countries by Gold Reserves (2024)
Rank	Country	Reserves (Tons)
1	US	8,133.5
2	Germany	3,355.1
3	IMF	2,814
4	Italy	2,451.8
5	France	2,437
6	Russia	2,335.9
7	China	2,279.6
8	Switzerland	1,039.9
9	India	876.2
10	Japan	846
11	Turkey	615
12	Netherlands	612.5
13	European Central Bank	506.5
14	Poland	448.2
15	Taiwan	423.9
16	Portugal	382.7
17	Uzbekistan	382.2
18	Saudi Arabia	323.1
19	United Kingdom	310.3
20	Lebanon	286.8

Economic Reports

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Market Indices

Commodity Price

Gold

1,927.33

(8.33) (0.43%)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Most Read

Market Indices

Commodity Price

Popular Links

Quick Links

About Us

Join Us

Follow Us