Frequently asked questions about gold prices in Saudi Arabia
What is the 21K gold gram price today in Saudi Arabia?
The live price is at the top of the home page in riyals per gram. It is the raw metal price derived from the global price at 3.75 riyals per dollar. Shop prices add making charges and VAT.
How do I get the 21K or 18K price from the 24K price?
Multiply the 24K gram price by the purity: 22K × 0.916, 21K × 0.875, 18K × 0.75, 14K × 0.585. If 24K is 400 riyals per gram, 21K is 350.
Why is the shop price higher than the price shown here?
Because the price here is raw gold only. The shop adds a making charge that varies by design, then 15% VAT on the total for jewelry. When you sell, the reverse happens and the shop pays below the raw price.
Is VAT charged on gold in Saudi Arabia?
It depends on the type. Investment gold of 99% purity or higher is zero-rated. Jewelry of 21K, 18K or any purity below 99% carries 15% VAT when bought from a registered business. Check ZATCA for details.
What is the difference between investment gold and jewelry?
Investment gold is bars and coins of 99% purity or higher, bought at a small premium and sold at a small discount, zero-rated for VAT. Jewelry carries a making charge and 15% VAT that are not recovered on sale. Bars suit saving, jewelry suits wearing.
Why does the riyal price move exactly with the dollar price?
The riyal has been pegged to the US dollar at 3.75 since 1986. Gold is priced in dollars, so a 1% move in dollars is a 1% move in riyals at the same moment.
What drives the gold price?
Mainly US real interest rates; when they rise, dollars and bonds beat gold which pays no yield. Then dollar strength, central bank buying, inflation expectations, geopolitical risk and ETF flows. Jewelry demand sets a long-run floor.
How do I verify gold and its karat?
Look for the hallmark: 875 means 21K, 750 means 18K, 916 means 22K, 999 means 24K. Plated pieces carry GP or GF. Ask for an itemized invoice with weight, karat and making charge. Any gold shop can test a piece in minutes.
Is now a good time to buy gold?
We do not give investment advice or price forecasts. We provide the data to decide for yourself: the current price, distance from the high, changes over time, the gold to silver ratio and the historical return calculator.
Are the historical data daily?
Historical data are World Bank monthly averages since January 1960, suited to long-run comparisons and charts, while the live price powers the calculators.