Riyadh city
Gold bar and coin purchases in Saudi Arabia rose to 15.4 tons in 2024, up 9% from 2023, the World Gold Council reported. 
Demand has now increased for four straight years, with 2024 purchases hitting the highest level since 2014.
Saudi Arabia’s Gold Bar and Coin Purchases Since 2010
Year
Volume
(Tons)
Change (%)
2010
14.55
—
2011
17.71
22%
2012
16.93
(4%)
2013
18.30
8%
2014
15.65
(14%)
2015
14.92
(5%)
2016
10.81
(28%)
2017
9.93
(8%)
2018
10.18
3%
2019
8.84
(13%)
2020
8.40
(5%)
2021
10.90
30%
2022
12.20
12%
2023
14.13
16%
2024
15.37
9%
Global gold bar and coin purchases fell 0.2% in 2024 to 1,186.3 tons, down from 1,189.8 tons in 2023.
The US led global gold reserves at 8,133.5 tons by year-end, making up 75% of its total holdings.
Saudi Arabia holds 323.1 tons, or 6% of its reserves, ranking 18th globally and first in the Arab world.
Top Countries by Gold Reserves (2024)
Rank
Country
Reserves
(Tons)
1
United States
8,133.5
2
Germany
3,355.1
3
IMF
2,814.0
4
Italy
2,451.8
5
France
2,437.0
6
Russia
2,335.9
7
China
2,279.6
8
Switzerland
1,039.9
9
India
876.2
10
Japan
846.0
11
Turkey
615.0
12
Netherlands
612.5
13
European Central Bank
506.5
14
Poland
448.2
15
Taiwan
423.9
16
Portugal
382.7
17
Uzbekistan
382.2
18
Saudi Arabia
323.1
19
United Kingdom
310.3
20
Lebanon
286.8
Riyadh city
Gold bar and coin purchases in Saudi Arabia rose to 15.4 tons in 2024, up 9% from 2023, the World Gold Council reported.
Demand has now increased for four straight years, with 2024 purchases hitting the highest level since 2014.
Saudi Arabia’s Gold Bar and Coin Purchases Since 2010
Year
Volume
(Tons)
Change (%)
2010
14.55
—
2011
17.71
22%
2012
16.93
(4%)
2013
18.30
8%
2014
15.65
(14%)
2015
14.92
(5%)
2016
10.81
(28%)
2017
9.93
(8%)
2018
10.18
3%
2019
8.84
(13%)
2020
8.40
(5%)
2021
10.90
30%
2022
12.20
12%
2023
14.13
16%
2024
15.37
9%
Global gold bar and coin purchases fell 0.2% in 2024 to 1,186.3 tons, down from 1,189.8 tons in 2023.
The US led global gold reserves at 8,133.5 tons by year-end, making up 75% of its total holdings.
Saudi Arabia holds 323.1 tons, or 6% of its reserves, ranking 18th globally and first in the Arab world.
Top Countries by Gold Reserves (2024)
Rank
Country
Reserves
(Tons)
1
United States
8,133.5
2
Germany
3,355.1
3
IMF
2,814.0
4
Italy
2,451.8
5
France
2,437.0
6
Russia
2,335.9
7
China
2,279.6
8
Switzerland
1,039.9
9
India
876.2
10
Japan
846.0
11
Turkey
615.0
12
Netherlands
612.5
13
European Central Bank
506.5
14
Poland
448.2
15
Taiwan
423.9
16
Portugal
382.7
17
Uzbekistan
382.2
18
Saudi Arabia
323.1
19
United Kingdom
310.3
20
Lebanon
286.8
