8 Countries With Highest Gold Consumption By Year

4. Saudi Arabia 

Average Per Year Gold Consumption: 220 metric tons 

Gold Consumption In 2022: 268.2 metric tons 

Gold Consumption in 2021: 219.9 metric tons 

Gold Consumption in 2020: 172 metric tons 

The country with the highest gold consumption in the Middle East is Saudi Arabia, which averages 220 metric tons annually. Such diverse gold usage also affirms its socio-cultural predilection towards gold as it serves as an investment and a symbol of status.