Top 7 Arab Gold Purchasers Over the Past Two Years
Gold has long played a central role in the economic thinking of Arab nations. Beyond its cultural significance, gold is viewed as a strategic asset—one that provides financial security, diversification away from the U.S. dollar, and protection against inflation, geopolitical risk, and global market volatility. Over the past two years, these motivations have become even stronger as the world has faced persistent inflation, fluctuating interest rates, regional conflicts, and uncertainty in global trade.
Across the Arab world, several countries have emerged as notable gold purchasers, primarily through their central banks. While the scale and pace of buying differ, the overall trend is clear: gold is increasingly being used as a stabilizing pillar within national reserve strategies. Below is an analytical overview of the top seven Arab gold purchasers over the past two years, based on widely reported central bank activity and regional economic trends.
1. Saudi Arabia
Saudi Arabia remains one of the most influential players in the Arab world’s gold strategy. While the Kingdom is traditionally conservative in disclosing detailed reserve movements, it consistently ranks among the largest gold holders in the region. Over the past two years, Saudi Arabia has focused on strengthening its financial resilience as part of its broader Vision 2030 economic transformation plan.
Gold purchases align with the Kingdom’s objective of diversifying reserves away from oil revenue dependence and foreign currencies. Even when purchases are gradual rather than aggressive, Saudi Arabia’s sheer economic scale ensures its place at the top tier of Arab gold buyers.
2. United Arab Emirates (UAE)
The UAE stands out not only as a gold purchaser but also as a global gold trading hub. Dubai, often referred to as the “City of Gold,” plays a pivotal role in international bullion flows. Over the past two years, the UAE has continued to strengthen its gold reserves while simultaneously facilitating massive volumes of gold trade.
The UAE’s gold accumulation reflects its strategy of positioning itself as a global financial center. Gold supports currency stability, boosts investor confidence, and complements the country’s open, trade-driven economy. The central bank’s measured but consistent gold purchases underscore a long-term commitment rather than short-term speculation.
3. Qatar
Qatar has been one of the more dynamic gold buyers in the Arab world in recent years. Since navigating regional diplomatic tensions earlier in the decade, Qatar has emphasized financial independence and reserve diversification. Gold has become a cornerstone of that strategy.
Over the past two years, Qatar has steadily increased its gold holdings, viewing the metal as a hedge against geopolitical uncertainty and global monetary tightening. Its strong fiscal position, backed by natural gas exports, allows the country to pursue gold accumulation without pressuring domestic liquidity.
4. Egypt
Egypt’s gold purchasing activity reflects both necessity and strategy. Facing inflationary pressures, currency fluctuations, and external debt challenges, Egypt has increasingly turned to gold to reinforce confidence in its monetary system.
Over the past two years, the Central Bank of Egypt has added to its gold reserves as part of a broader effort to stabilize the economy and reassure international partners. For Egypt, gold serves not only as a store of value but also as a signal of financial discipline during periods of economic reform.
5. Iraq
Iraq has quietly emerged as a significant gold purchaser among Arab nations. As the country works to rebuild economic credibility after years of conflict and instability, gold has played a role in strengthening its foreign reserves.
Over the past two years, Iraq’s central bank has increased gold holdings to reduce reliance on foreign currencies and enhance resilience against external shocks. These purchases also reflect growing institutional capacity and a more proactive approach to reserve management.
6. Kuwait
Kuwait’s gold purchasing strategy is characterized by caution and long-term planning. With substantial sovereign wealth and strong oil revenues, Kuwait does not need aggressive reserve expansion. Instead, its gold purchases over the past two years have been steady and deliberate.
Gold fits neatly into Kuwait’s conservative financial philosophy—preserving wealth across generations while minimizing exposure to volatile assets. Though its buying volumes may be smaller than those of larger economies, Kuwait remains a consistent and reliable participant in regional gold accumulation.
7. Oman
Oman rounds out the list as a smaller but increasingly notable gold purchaser. Facing fiscal pressures and economic restructuring efforts, Oman has used gold to strengthen confidence in its financial system.
Over the past two years, Oman has gradually increased its gold reserves as part of a broader effort to improve reserve quality and reduce vulnerability to currency fluctuations. While its purchases are modest compared to Gulf heavyweights, they reflect a strategic shift toward greater financial stability.
Why Arab Nations Are Buying More Gold
Several common factors explain why gold purchasing has accelerated across the Arab world:
-
Global Economic Uncertainty
Inflation, banking sector stress, and geopolitical tensions have reinforced gold’s role as a safe-haven asset. -
Diversification Away from the Dollar
Many Arab central banks are reducing overreliance on the U.S. dollar by increasing allocations to gold. -
Monetary Stability
Gold strengthens confidence in national currencies, particularly during periods of exchange-rate pressure. -
Geopolitical Risk Management
Gold is politically neutral and immune to sanctions or external control. -
Long-Term Wealth Preservation
For resource-rich nations, gold helps convert finite natural resource revenues into enduring financial value.
Conclusion
Over the past two years, gold has reaffirmed its importance in the Arab world’s financial architecture. From major Gulf economies like Saudi Arabia and the UAE to reform-driven states such as Egypt and Iraq, gold purchasing reflects a shared desire for stability, sovereignty, and long-term resilience.
While the scale and pace of accumulation vary, the underlying message is consistent: gold is no longer just a traditional reserve asset—it is a strategic necessity. As global uncertainty persists, Arab nations are likely to remain active participants in the gold market, using the metal to safeguard their economies against an unpredictable future.
Published: 23th December 2025
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