AI Summary
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 |
Be the first to comment
Comments Analysis: