Gold Price Today in Saudi Arabia (Saudi riyal)

The Saudi gold market: what makes it different

Saudi Arabia is one of the most stable markets to price gold in, because the riyal is pegged to the dollar at a fixed 3.75: the gram price follows the world ounce alone, with no exchange-rate effect. The price above is raw gold per gram; what you pay in a shop adds the making charge, VAT and the shop's margin. This page explains the karats, the tax rules, the usual making charges and the authorities behind the market as a buyer or seller in the Kingdom needs them.

Karats: 21K, 18K and 24K

21K is the standard for jewellery in most of the Kingdom, 22K is common in some markets and in Gulf and Indian pieces, and 18K in Italian designs, brands and stone-set pieces. 24K (999 fine) is for the bars and investment coins sold by gold shops and some bank branches. People buying to save often choose 24K bars because they are VAT-free (see below) and carry the lowest making cost.

Units and pricing

The unit is the gram, and shops display the gram price for each karat before the making charge. At today's price (November 7, 2026) a gram of 24K is SAR 490.95, of 21K SAR 429.58 and of 18K SAR 368.22. Some shops quote a single per-gram figure "including making"; ask for the two numbers separately so you can compare the making charge alone.

VAT: 15% on jewellery, zero on investment gold

VAT of 15% applies to the full price of gold jewellery (metal and making together) and appears on the tax invoice. Investment gold of 99% purity or more (bars and coins traded on the world bullion markets) is zero-rated under the implementing regulations of the VAT law, so you pay no VAT on it. This difference is the first reason a bar and a chain of the same weight cost so differently to save in. Always ask for an electronic tax invoice; it is what you need to sell or exchange later.

Usual making charges

Making charges are quoted in riyals per gram: roughly SAR 15–35 per gram on bars and coins, 35–70 on chains and sets, 60–110 on rings and earrings, and more on stone-set pieces, brands and Italian designs, which can exceed SAR 150 per gram. The traditional gold markets (Al Batha in Riyadh, Al Balad in Jeddah, the gold souks of Dammam, Makkah and Madinah) charge less than mall shops. The fair price tool computes the making charge of any offer and compares it with the usual range.

How a jeweller prices in Saudi Arabia

Price = weight × gram price for the karat + making charge per gram × weight, then 15% VAT on the total. When buying from you, the jeweller pays the raw value less 3–8% for jewellery depending on condition, and neither the making charge nor the VAT you paid comes back. Stamped bars in their packaging are bought at a smaller discount (1–3%). Because the riyal is fixed to the dollar, every move in the gram price comes from the world ounce; follow it on the market pulse page.

Regulators and the hallmark

The Ministry of Commerce regulates gold and jewellery shops, requires invoices, hallmarks and a clearly stated karat, and runs inspection campaigns on purity; the Saudi Standards, Metrology and Quality Organization sets the standards for precious metals and their fineness; and the Zakat, Tax and Customs Authority applies VAT and electronic invoicing. A doubtful piece can be tested at an accredited laboratory or with the XRF analyser many shops keep.

Tips for buyers in Saudi Arabia

• For pure saving, a VAT-free 24K bar beats jewellery that carries 15%.
• Compare the making charge between at least two shops in the same market; the gold price is the same and the whole difference is in the making.
• Keep the tax invoice and the bar's original packaging.
• Check the day-by-day archive for the price trend of recent weeks.

Frequently asked questions