Q1 2026 gold jewelry demand in Kuwait falls 5.2 pc amid conflict disruptions, import halt
As jewelry demand slumps, Kuwait sees 27 pc surge in investment buying, gold bars and coins
Latest data from the World Gold Council shows that Kuwait’s total gold demand declined by 5.2 percent year-on-year to 3.6 tons in the first quarter of 2026, compared to 3.8 tons during the same period last year.
The drop coincided with the outbreak of the US-Israeli-Iranian conflict on February 28, 2026, which disrupted supply flows, particularly after the temporary closure of airspace and the suspension of gold imports through Kuwait International Airport during March.
Despite the overall decline, investment demand showed strong growth. Demand for gold bars and coins rose by 27 percent year-on-year to 1.8 tons, compared to 1.4 tons in the first quarter of 2025, reflecting increased investor interest amid geopolitical uncertainty.
In contrast, demand for gold jewelry recorded a sharp decline of 25 percent, falling to 1.8 tons from 2.4 tons a year earlier. The drop in jewelry consumption was a key factor behind the overall decrease in gold demand in Kuwait.
Globally, gold demand reached a record value of $193 billion in the first quarter of 2026, marking a 74 percent increase compared to the same period last year, according to the World Gold Council’s latest report.
