Saudi Arabia remains Middle East’s largest gold jewelry market as regional demand drops
- High gold prices, economic uncertainty, and reduced disposable income have pressured consumers across the region, leading to steep declines in jewelry purchases.
- The UAE and Kuwait both experienced a 29% drop in jewelry demand, while other regional markets faced a 43% decline.
- Saudi Arabia's share of regional demand increased to 31%, highlighting its relative resilience amid the overall downturn in the region's jewelry market.
