UAE Gold Reserves Rise 26% to $7.9B in January–May
The UAE’s gold reserves grew by nearly 26% in the first five months of 2025, reaching $7.9 billion (AED 28.9 billion) by the end of May, according to official data from the UAE Central Bank reported by WAM.
At the end of December 2024, gold reserves were $6.3 billion (AED 23 billion). In May alone, reserves rose slightly by 0.5% compared to April, moving from $7.8 billion to $7.9 billion.
Other deposits also increased:
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Demand deposits grew to $317.5 billion (AED 1.2 trillion) in May, up from $302 billion (AED 1.1 trillion) in December 2024.
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Savings deposits rose to $97.9 billion (AED 359.6 billion), compared to $86.4 billion (AED 317.5 billion) at the end of last year.
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Time deposits crossed $272.2 billion (AED 1 trillion) by May.
Global Gold Demand
Worldwide demand for gold rose 3% year-on-year in Q2 2025, reaching 1,248.8 metric tons, mainly driven by a 78% surge in investment, the World Gold Council (WGC) said.
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Gold bar demand increased 21% during the quarter, while coin demand continued to fall.
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Central banks reduced their gold purchases by 21% to 166.5 tons in Q2.
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On the supply side, recycled gold rose 4% to 347.2 tons, as many Indian consumers traded old jewelry for new pieces or used it for loans, despite record-high prices.
Outlook
The WGC cut its forecast for central bank gold buying this year but noted that the long-term trend of shifting from US assets to gold remains strong.
Published: 21st August 2025
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