The demand for jewelry decreased from 34.7 tonnes in 2024 to 29.4 tonnes last year, and it also decreased by 15% to 7.5 tonnes in the fourth quarter of 2025, according to figures issued by the World Gold Council on Thursday.
The gold bars and coins market defied the trend, according to data, with yearly demand rising 24% in 2025 to reach 14.8 tonnes as locals switched to gold coins and bars in anticipation of the price increase continuing. In the UAE last year, the total demand for gold, including bars, coins, and jewelry, decreased by 4% year over year to 44.2 tons.
In contrast, demand as measured by value increased across all markets since the fall in volume was more than compensated by the higher price of gold. The considerable increase in gold prices in 2025 unavoidably placed restrictions on the affordability of jewelry for customers worldwide. However, the dramatic increase in demand value throughout the year, with consumers spending a greater portion of their pocketbook on gold, shows that it did not suppress consumer desire for jewelry.
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