Egypt and Turkey led a slump in Middle East gold demand in the second quarter, with only Iran showing gains in the region’s investment and jewelry consumption.

Middle East jewelry demand declined 22 percent to 45 metric tons, with Egypt down 40 percent to 5.3 tons, the lowest on record, the World Gold Council said in a report on its website Thursday. In Turkey, first-half investment demand for coins and bars was 8.8 tons, the lowest since WGC records began in 2000. Iran’s jewelry demand jumped 10 percent and investment demand gained 2 percent.