Saudi Arabia remains Middle East’s largest gold jewelry market as regional demand drops

RIYADH: Saudi Arabia remained the Middle East’s largest gold jewelry market in the third quarter of 2026, even as regional demand fell sharply, according to the World Gold Council. According to the organization's latest Gold Demand Trends report, jewellery purchases in Saudi Arabia fell 12 percent year on year to 8.2 tonnes in the third quarter, down from 9.3 tonnes in the same period of 2025. Middle East demand slid 22 percent to 26.2 tonnes from 33.4 tonnes a year earlier. The regional decline