How is the gold rate in Saudi Arabia calculated?
The Saudi riyal is pegged to the US dollar at 3.75, so the gold rate in Saudi Arabia follows the international price directly. Price per gram = gold price per ounce in USD ÷ 31.1035 × 3.75 × purity of the karat.
The Saudi riyal is fixed to the dollar (3.75), so gold prices in riyals move only with the international gold price.
Popular karats in Saudi Arabia
21K is the traditional Saudi karat and the most sold in local jewellery shops. 22K is the karat most bought by the large Indian, Pakistani, Bangladeshi and Filipino communities, 18K is used for modern and diamond jewellery, and 24K is bought as bars and coins. See each karat: 24K · 22K · 21K · 18K.
Making charges and VAT
VAT in Saudi Arabia is 15% on gold jewellery and making charges, while investment gold of 99% purity or more (bars and coins) is zero-rated when the conditions are met. Ask the shop for a tax invoice showing weight, karat, making charge and VAT. The table "gold price with making charges" on this page estimates the final price per gram; change the making charge to match your shop.
Where to buy gold in Saudi Arabia
Every Saudi city has gold souqs and jewellery shops. The best known are the old gold souq of Al-Mu'aiqiliya in Riyadh, the gold shops of Al-Balad in Jeddah, and the gold markets of Dammam and Al Khobar. Making charges are quoted per gram and depend on the design.
Gold rate per tola
The tola is a traditional South Asian weight of 11.6638 grams that many residents of Saudi Arabia still use to compare prices with home. The 10 tola bar (TT bar) weighs 116.64 grams of 24K (999) gold. Tola gold price today.
Source of the prices
Saudi gold dealers follow the international price live. Because the riyal is pegged to the dollar, differences between shops come from making charges and buy-back margins, not from the gold price itself. The method is explained on our methodology page (Arabic).