Gold buyers in Kuwait are increasingly buying jewelry and coins as bullion supply tightens. Prices are approaching record highs, highlighting investors’ drive to protect wealth amid volatile markets.
Global gold prices recently fell to their lowest levels this year, according to the World Gold Council. Analysts cited rising real bond yields, expected interest rate hikes, profit-taking, and market liquidity fluctuations as the main reasons. Despite this dip, gold is likely to hold strong support between $4,066 and $4,090 per ounce.
Gold buyers in Kuwait demand for gold has surged beyond traditional bullion. Buyers are now turning to coins, jewelry, and alternative gold forms to preserve value. Traders at Al-Mubarakiya reported heavy purchases of bars and liras, creating a noticeable shortage.
As a result, investors are exploring alternatives such as Al-Mardouf pieces, Emirati-style prayer beads, and jewelry that resembles 21-karat bars. Pre-owned gold items and heavier designs with minimal manufacturing costs are also gaining popularity. Retailers say consumers prefer low-making-charge designs to maximize investment returns.
Local gold prices currently stand at 44,900 dinars for 24-karat, 41,066 dinars for 22-karat, 39,200 dinars for 21-karat, and 33,600 dinars for 18-karat. Globally, an ounce traded at $4,493, up 2.54% from recent levels due to strong demand.
Investors are selling older gold pieces to reinvest in newer designs. One item bought for 1,450 dinars two years ago sold for 3,700 dinars. This trend shows gold jewelry is increasingly seen as both a store of value and a reliable investment.
Major banks, including JPMorgan, forecast that continued central bank purchases could push gold prices to $6,300 per ounce by year-end. Tight local supply and geopolitical tensions continue to strengthen gold’s safe-haven appeal.
Analysts say regional instability will likely keep demand high. Kuwait buyers are expected to focus on coins, jewelry, and alternative gold forms through the rest of 2026.
