About Gold Pricing in Saudi Arabia
The gold price displayed above is calculated live from the COMEX spot price and converted to SAR using the fixed SAR/USD peg of 3.75. Investment gold (bars and coins of 99%+ purity) is VAT-exempt in Saudi Arabia. Gold jewellery is subject to 15% VAT.
Saudi Arabia is the Middle East's largest gold market by consumer demand. The gold souks in Riyadh (Al Thumairi) and Jeddah (Balad) are major retail centres. Saudi gold is typically sold in 21K and 22K purity for jewellery. AURUM calculates Saudi gold rates using: COMEX spot x 3.75 (SAR/USD fixed peg).
Saudi Arabia's central bank (SAMA) holds 323 tonnes of gold reserves. The kingdom has been increasing gold holdings as part of Vision 2030 economic diversification. For full gold intelligence, visit the AURUM platform.
Frequently Asked Questions - Gold in Saudi Arabia
What is the gold price in Saudi Arabia today? +
Saudi gold price is the COMEX spot price multiplied by 3.75 (the fixed SAR/USD peg). Investment gold (99%+ purity) is VAT-exempt. Gold jewellery attracts 15% VAT.
Is gold VAT-free in Saudi Arabia? +
Investment gold (99%+ purity bars and coins) is VAT-exempt. Gold jewellery (below 99% purity) is subject to 15% VAT. The making charge (craftsmanship fee) on jewellery also attracts VAT.
What purity is Saudi gold? +
Saudi jewellery gold is most commonly 21K (87.5% pure) and 22K (91.67% pure). Investment bars are 24K (99.9%+). The Saudi Standards Organization (SASO) regulates gold purity markings.
Where to buy gold in Saudi Arabia? +
Major gold souks include Al Thumairi in Riyadh and Balad Gold Souk in Jeddah. Chain retailers like L'azurde and Damas also operate throughout the kingdom. Compare prices - making charges vary widely.
How does the SAR peg affect gold prices? +
The Saudi Riyal is pegged to the US dollar at 3.75. This means SAR gold prices move in exact lockstep with USD spot prices - there is no currency fluctuation risk for Saudi gold buyers.