Gold Rates In KSA
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Things To Know About Gold Rates In KSA & Buying Guide

Gold Rates In KSA are varied from other countries. Many visitors to Saudi Arabia, including those on Hajj and Umrah, certainly buy gold. In Saudi Arabia, there is no excise or VAT is levied on gold. That’s why locally designed & manufactured gold get sold at lower prices, available at many gold jewellery centres.  

Whether you are an aspiring investor who wants to speculate on gold rings or a happy buyer who wants to buy gold in the style of jewellery articles, these tips will help you buy your type of gold at the best prices in KSA. In addition, you do not have to live in a particular city to purchase gold. Almost every city in Saudi Arabia has plenty of gold & jewellery shops to satisfy your cravings.

Read Also: A Professional Work Permit Is Required For The Workers In The Gold Market

What Is The Reason For Buying Gold?

What are some common reasons to buy gold? How does this factor work in making good buying decisions? It all depends on whether you are buying gold as jewellery, as an investment, or for both purposes. Before you buy gold, think about your reasons for purchasing gold first, as it can help you decide when it comes to carats, designs and colours. Remember that pure gold is 24 carats, which means it is 100% gold.

Meanwhile, 18-carat gold is about 75% gold and 25% other metals such as copper or silver. It is because pure gold is soft and easily scratched. Therefore, people also use it for jewellery, and it gets mixed with other metals.

In this article, we will briefly discuss each reason for buying gold, such as:

  • BUYING GOLD FOR JEWELLERY
  • BUYING GOLD FOR INVESTMENT
  • BUYING GOLD FOR BOTH, JEWELLERY & INVESTMENT

Buying Gold For Jewellery

Buying Gold For Jewellery
Buying Gold For Jewellery

If you only want to buy gold for jewellery purposes, buying 18 or 21-carat gold jewellery would be fine. In terms of gold, low quality and low purity, 18-carat jewellery get sold at the same price of 21 carats. It is mainly due to the complexity of the design, as even the thin 18-carat gold chains are stronger and help create intricate designs without weighing too much.

Also, the 18-carat ones look less shiny and are a favourite among teenagers, whereas the 21-carat are bright yellow and those who don’t want shinning gold. There is also white gold which is becoming increasingly popular in the country.

Buying Gold For Investment

Most gold shops in KSA sell gold coins and gold bars made of 24-carat gold. Some shops even sell gold with a 999.9 purity standard. These gold bars or coins can weigh anywhere from 1 gram to 1 kg. Investors can grab these coins or bars and wait for the price of gold to rise and then sell it to make a profit, or they can save it permanently for a rainy day because gold is a lot.

Buying Gold For Investment
Buying Gold For Investment

It is a liquid and relatively stable investment. Gold bars issued by internationally recognized brands such as Valcambi and PAMP are available in Saudi Arabia. Some Middle Eastern jewellery brands, such as Malabar Gold and Joy Alokas, also sell their branded bullion coins and bars through their outlets across the country.

Buying Gold For Both Jewellery And Investment

If you plan to buy gold for jewellery and investment purposes, experts recommend purchasing 21 or 22-carat gold. It also helps if there are few or no stones in the design because the purity and weight of the gold are the only things that matter. Prices vary by design. Saudi or Bahraini designs are cheaper than Indian or Italian designs. At the time of resale, no matter the design, the premium or the number of stones, the only thing that matters is the final weight and purity of the gold.

A Complete Guide To Buy Gold In Saudi Arabia

We love gold. There is no doubt about it. We have been obsessed with gold since ancient times, and many people go crazy after buying gold. Whether it’s a wedding, a gathering, a birthday party or an anniversary, we can see people wearing gold or diamond jewellery. People use gold for the dual purpose as a fashion accessory and as an investment. Whether it is ethnic clothing or modern clothing, gold jewellery is one of the best accessories that most women prefer on every occasion.

But, did we specialize in buying gold? In the mad rush to buy gold, most overlook things that should be the top priority.

So keep a few simple tips in mind to make sure you get the best bang for your buck when you buy gold while travelling in Saudi Arabia.

Read Also: Saudi Arabia Announced SOPs for Eid ul Fitr

7 Tips To Know Before Buying Gold In Saudi Arabia

Is Gold Cheap In KSA?

The price of gold fluctuates in Saudi Arabia as well as around the world and varies greatly. It depends on its rate in terms of weight or carat and where you are buying it from. Some people say that it is just a myth that gold is cheap in Saudi Arabia, but it is very affordable.

Let me tell you why it is cheaper to buy gold in Saudi Arabia. Saudi Arabia has high-quality gold reserves, so it does not need to import them. Secondly, the VAT rate in Saudi Arabia is only 5%, while in India, it is 12%, and in Pakistan, it is 17% which is another reason why gold is cheaper in Saudi Arabia.

Where To Buy Gold In KSA?

If you want to buy pure Saudi gold, make sure you buy it from a reputable gold market. In other words, you should prefer Gold Market stores to one store in a shopping mall.

If you buy gold from the gold market of Saudi Arabia, you will get better rates and better quality of gold because of the competition.

Below we have mentioned some of the famous gold markets in JEDDAH & RIYADH, where you can buy gold during your stay in KSA.

Research And Understand The Calculation Of Karat

Gold gets measured in carat terms. The purest form of gold is 24 carats. Gold is so soft in its original form that it must get mixed with some primary metals such as copper, nickel, zinc, etc., to give it a proper shape. The higher the carat, the more expensive it is, so most are gold jewellery. Remember that pure gold is 24 carats, which means it is 100% gold. Meanwhile, 18-carat gold is about 75% gold and 25% other metals such as copper or silver

NO. OF KARATSPARTS OF GOLDGOLD PURITYFINENESS (OUT OF 1000)
8k8/2433.3 %333
9k9/2437.5 %375
10k10/2441.7 %416/417
11k11/2445.8 %458
12k12/2450.0 %500
13k13/2454.1 %541
14k14/2458.3 %583/585
15k15/2462.5 %625
16k16/2466.6 %666
17k17/2470.8 %708
18k18/2475.0 %750
19k19/2479.1 %791
20k20/2483.3 %833
21k21/2487.5 %875
22k22/2491.7 %916/917
23k23/2495.8 %958
24k24/2499.9 %999

Get To Know The Karat Hallmarks:

Unique markings on the inside of gold jewellery or pieces usually indicate weight or carats; for example, 10k represents ten carats. These are just some of the gold setting shareware that you can use.

Look For The Heaviest Gold Set

Of all the purchase tips of gold jewellery, buying the heaviest gold sets is the best advice. The heavier the gold set in grams, the more expensive the gold item. Generally, it weighs only in grams. The circumference of thick bangles and rings helps maintain stability and prevent bending, keeping it in a firm shape.

Keep in mind that high heels in the form of rings or bracelets can cause damage due to adaptability. Get it at 16 or 18 carats. Remember that jewellery is not pure gold. It is the gold coating on metal. Gold weighing machines are always available in stores. Use them to ensure weight.

Keep The Color Of Your Gold Jewelry In Mind

Choose the colour of gold which you want to buy. Gold also has different colours. The price of every colour is different. White gold is the most demanding and people favourite gold. Whereas the most common gold colour is yellow, but there are also different shades.

Don’t Buy If There Is No Paper Receipt Or Documentation

Before buying, ensure that the shopkeeper gives you the certificate of authenticity and you know the exchange policy: When you return home and find out that there is a problem with size, you can exchange your gold set or resale it.

To avoid any hassle, always inquire in advance about the exchange or return policy. Also, in the case of a certification certificate, prove that the gold is pure and genuine.

Read Also: Ministry Of Health Imposed 3 More Covid-19 SOPS On Visiting Shopping Malls And Commercial Malls

What Is The Procedure To Buy Gold:

Step 1: Choose Why Are You Buying It?

Before you buy gold, think about your reasons for purchasing gold first, as it can help you decide when it comes to carats, designs and colours. Remember that pure gold is 24 carats, which means it is 100% gold. Meanwhile, 18-carat gold is about 75% gold and 25% other metals such as copper or silver. It is because pure gold is soft and easily scratched. Therefore, people also use it for jewellery, and it gets mixed with other metals.

Step 2: Be Familiar With The Latest Gold Rates

As the price of gold changes in KSA over time, it always helps to be aware of the latest prices, especially if you buy gold as an investment. You can check these rates through websites like LivePriceofGold.com or GoldRate24.com.

Step 3: Choose The Colour

Choose the colour of gold which you want to buy. Gold also has different colours. The price of every colour is different. White gold is the most demanding and people favourite gold. Whereas the most common gold colour is yellow, but there are also different shades.

Step 4: Buy During Weekends

Gold gets traded almost every day of the week. However, its prices are different every day. On Saturday or Sunday, markets do not trade gold on international exchanges, so these are good times to buy precious metals.

Step 5: Verify The Originality Of Your Gold

Unique markings on the inside of gold jewellery or pieces usually indicate weight or carats; for example, 10k represents ten carats. These are just some of the gold tips that you can use to find the originality or weightage of your gold.

Step 6: Make A Bargain

If you are shopping in the traditional market or SOUQ, you can always negotiate a better price. In this situation, you should bring along someone who knows Arabic phrases because most sellers do not necessarily know basic English.

Step 7: Use Cash Instead Of Credit Card

Gold sellers are usually not keen on shouldering credit card fees, so it’s best to pay in cash or debit card, if possible.

Step 8: Ask For A Purchase Certificate

An authentication certificate is a proof that the gold is pure. Before buying, ensure that the shopkeeper gives you the certificate of authenticity and you know the exchange policy: When you return home and find out that there is a problem with size, you can exchange your gold set or resale it.

Read Also: Locations of Cattle Markets in Jeddah

Where To Buy Gold In KSA?

Buy Gold In Riyadh

Dozens of shops are available in gold markets in Riyadh, and the shops we have listed below are only a fraction of the actual amount of gold available in Riyadh

  • JOYALUKKAS AND MALABAR
  • BATHA GOLD MARKET
  • TAIBA GOLD MARKET
  • L’AZURDE
  • AL ROMAIZAN
  • GOLD SHOPS IN SHOPPING MALLS OF RIYADH
  • AL TAMEER COMMERCIAL CENTER
  • SOUK SAWKA
Joyalukkas And Malabar

Joyalukkas and Malabar are the two leading brands of Indian diamond jewellery. Their branches can get easily found in Riaz Avenue Mall near Lulu Hypermarket. Riyadh Avenue Mall has become a small market for Indian-style gold in Riyadh.

GOOGLE MAPS LOCATION: JOYALUKKAS AND MALABAR

Batha Gold Market

Bath Gold Market is one of the top shops in Riyadh for buying gold as there are many shops related to gold metal available in it. Indians and Pakistanis densely populate the area of ​​Batha in Riyadh, and you can see its significant influence in Batha Gold SOUQ and its shops.

Although gold prices are according to international rates, they offer a slightly lower price in the Batha Gold market than any civic in Riyadh. However, the designs of gold jewellery are minimal.

Bath Gold Market consists of three Gold Civic, namely Hala Gold Market, Dera Gold Market, and Gold Souq, where you can find hundreds of shops.

GOOGLE MAPS LOCATION: BATHA GOLD MARKET

Taiba Gold Market

A variety of fine jewellery and affordable prices are available at the Taiba Gold Market in Riyadh. The best thing about the Riyadh souq is that you will find small and large gold shops in Tayba Gold Market offering different gold jewellery designs.

There are not many branded shops available in Tayyaba Gold Market in Riyadh as you can only find L’azurde in big names. However, you can find many local shops where you can buy gold in Riyadh.

GOOGLE MAPS LOCATION: TAIBA GOLD MARKET

L’azurde

The L’AZURDE signature name is one of the leading jewellery brands known for its beautiful gold and diamond jewellery designs.

With over 30 years of experience, L’azurde has excelled in the art of jewellery design. Riyadh has at least 5 L’Azurde gold shops in Al Nakheel Mall, Panorama Mall, Taiba Market, Andalusia Mall and Sahara Mall.

Al Romaizan

Al-ROMAIZAN gold shops are available in various gold markets, souks and malls in Riyadh. They sell relatively expensive jewellery but provide the most unique and stunning collections for all kinds of events.

They also have a beautiful bridal collection. Al-ROMAIZAN branches are available at Olia Store, Andalusia Mall, Sahara Mall and many other places.

GOOGLE MAPS LOCATION: AL ROMAIZAN

Gold Shops In Shopping Malls Of Riyadh

There are also gold shops in various malls in Riyadh, but their gold jewellery is relatively more expensive than the gold shops in the gold markets. Because the people who have shops in the malls have to pay more rent, they have to earn by selling their gold jewellery.

Al Tameer Commercial Center

Many gold stores in the Al-Taymir Trading Center in Al-Adeira Riyadh sell gold in the centre.

Souk Sawka

There are also several gold shops in SOUK SAWEKA. Here, you will find all kinds of gold jewellery, old and new.

Read Also: Ministry Of Hajj And Umrah: Pilgrims Don’t Need To Buy Bus Tickets

Buy Gold In Jeddah

Saudi Arabia is a country rich in luxuries like gold and petrol. People from around the world come to KSA for Hajj and Umrah and also turn to gold shops and markets in Jeddah to buy gold. In this article, we have mentioned eight gold markets in Jeddah.

Everywhere in the world, women like to wear jewellery, whether it is a small piece of the ring or not. When jewellery get made of gold, it is like a woman’s own treasure. During the Hajj last year, gold prices fell sharply and the business of the gold shops in Jeddah boosted automatically.

  • YAMAMA GOLD MARKET OR KANDARA GOLD MARKET
  • JEDDAH BALAD GOLD MARKET
  • ATLAS JEWELRY
  • GOLD MARKET IN BANI MALIK JEDDAH
  • THE GOLD MARKET IN HINDAWIYA DISTRICT
  • GOLD SHOPS IN SHOPPING MALLS
  • GOLD MARKET OF AL SAGHA
  • MOUAWAD JEWELRY AND WATCHES

Yamama Gold Market Or Kandara Gold Market

Yamama Gold site is the new name of Kandara Gold Market in KSA. If you want to find this place on Google Maps, you have to search Yamama Gold Market. Most of the older people who have been living in Jeddah for a long time know this place as the Kannada Gold site.

SOUQ Yamama is the best place to buy gold in Jeddah. Women like to buy gold from this place. You can find all kinds of designs there. You can find a sales representative with good English speaking ability in almost every store.

Although people may differ in their opinion, Kannada Gold Market is the best place to buy gold in Jeddah or maybe across the country. There are about 100 gold shops that make it very easy for consumers to buy gold at a competitive rate.

GOOGLE MAPS LOCATION: KANDARA GOLD MARKET OR YAMAMA GOLD MARKET

Jeddah Balad Gold Market

Good quality gold can get purchased from Jeddah Balad Gold Market. Here you will find different varieties of jewellery available at reasonable prices. It is a crowded and old bazaar in Jeddah. Lots of old buildings and traditional food are available there. It is also called Gold SOUQ in the country.

Jeddah Balad Gold Market is present around the Sharbatli Building, a famous landmark in the Balad area. While there are many gold shops in Jeddah, the most famous Jeddah Balad Gold Market is Malabar Gold & Diamonds. Here is a map of the Jeddah Balad Gold Market.

GOOGLE MAPS LOCATION: JEDDAH BALAD GOLD MARKET

Atlas Jewelry

Atlas Jewellery is a brand of gold jewellery in India. The brand sells a wide range of modern and traditional jewellery. Atlas jewellery is present in Al-Balad Civic in Jeddah. However, some people have recently commented that the Atlas Jewellery shop from Jeddah Balad Gold Market has been closed. We do not know of any new location for this gold shop in Jeddah. 3. Safa, Gold Market in Jeddah

The gold market in Jeddah’s Safa district is also a good market for buying gold as there are about 25 to 30 gold shops. The prices offered here are quite competitive. However, you will not find different types of jewellery there as you can find in Kandara Gold Market.

GOOGLE MAPS LOCATION: ATLAS JEWELRY

Gold Market In Bani Malik Jeddah:

Bani Malik, Jeddah Gold Market is a good place with a large number of gold shops. Within an hour, you will actually find your desired product.

However, some people near the taxi drop-off area try to persuade you to go to their store and buy fake watches. Ignore them. In this link, we have given the location of the Gold Market in Bani Malik.

GOOGLE MAPS LOCATION: GOLD MARKET IN BANI MALIK JEDDAH

The Gold Market In Hindawiya District

The gold market under the Gold Building in Jeddah has long been trendy. It is an old building and has many memories of the people of Jeddah.

However, I do not recommend this place to anyone to buy gold in Jeddah as most gold shops have moved to other sites.

Gold Shops In Shopping Malls

There are hundreds of gold shops available in different shopping malls of JEDDAH. The quality of gold available in it is also very good. However, I have only one reservation with these stores because they charge more than the gold prices available in the market. There are also gold shops in Hira Mall and Hijaz Mall.

Gold Market Of Al Sagha

The gold market of Al SAGHA Specializes in the sale of gold, silver and diamonds southeast of Jeddah, a famous market during Islamic festivals such as the Hajj.

There are also many gold shops in Al-SAGHA Civic in Jeddah. To get the best deal of gold jewellery in the gold shop, remember to negotiate as much as possible.

Mouawad Jewelry And Watches

Mouawad, a luxury jeweller and watchmaker, opened his first store in Jeddah, Jamil Square. They offer sophisticated and unique designs that are hard to find anywhere else.

Mouawad is a celebrity brand featuring celebrities from the Middle East as well as Mouawad jewellery internationally. We’ve given the Google Map location of this gold shop here.

GOOGLE MAPS LOCATION: MOUAWAD JEWELRY AND WATCHES

What Are The Gold Rates In KSA?

GOLD RATES

QUANTITY24K GOLD RATE22K GOLD RATE21K GOLD RATE18K GOLD RATE
1 GRAMSAR 225.00SAR 208.00SAR 198.50SAR 170.20
1 TOLASAR 2,624.36SAR 2,426.07SAR 2,315.27SAR 1,985.18
10 GRAMSSAR 2,250.00SAR 2,080.00SAR 1,985.00SAR 1,702.00
1 SOVEREIGNSAR 1,800.00SAR 1,664.00SAR 1,588.00SAR 1,361.60
10 TOLASSAR 26,243.56SAR 24,260.71SAR 23,152.65SAR 19,851.79
1 OUNCESAR 6,998.28SAR 6,469.52SAR 6,174.04SAR 5,293.81
1 KILOGRAMSAR 225,000.00SAR 208,000.00SAR 198,500.00SAR 170,200.00

GOLD RATES IN PREVIOUS DAYS

Date24KARAT / 1g22 KARAT / 1g21KARAT  / 1g18 KARAT / 1g
28-11-2021, AMSAR 225.00SAR 208.00SAR 198.55SAR 170.18
27-11-2021, AMSAR 225.00SAR 208.00SAR 198.55SAR 170.18
26-11-2021, AMSAR 226.00SAR 208.00SAR 198.55SAR 170.18
25-11-2021, AMSAR 226.00SAR 208.00SAR 198.55SAR 170.18
24-11-2021, AMSAR 227.00SAR 209.00SAR 199.50SAR 171.00
23-11-2021, AMSAR 222.50SAR 210.00SAR 200.45SAR 171.82
22-11-2021, AMSAR 232.00SAR 214.00SAR 204.27SAR 175.09
21-11-2021, AMSAR 232.00SAR 214.00SAR 204.27SAR 175.09
20-11-2021, AMSAR 232.00SAR 214.00SAR 204.27SAR 175.09
19-11-2021, AMSAR 234.00SAR 216.00SAR 206.18SAR 176.73
18-11-2021, AMSAR 234.00SAR 216.00SAR 206.18SAR 176.73
17-11-2021, AMSAR 233.00SAR 215.00SAR 205.23SAR 175.91
16-11-2021, AMSAR 234.00SAR 216.00SAR 206.18SAR 176.73
15-11-2021, AMSAR 233.00SAR 215.00SAR 205.23SAR 175.91
14-11-2021, AMSAR 233.00SAR 215.00SAR 205.23SAR 175.91
13-11-2021, AMSAR 233.00SAR 215.00SAR 205.23SAR 175.91
12-11-2021, AMSAR 233.00SAR 215.00SAR 205.23SAR 175.91
11-11-2021, AMSAR 233.00SAR 215.00SAR 205.23SAR 175.91
10-11-2021, AMSAR 229.00SAR 212.00SAR 202.36SAR 173.45
09-11-2021, AMSAR 229.00SAR 212.00SAR 202.36SAR 173.45
08-11-2021, AMSAR 228.00SAR 211.00SAR 201.41SAR 172.64
07-11-2021, AMSAR 228.00SAR 211.00SAR 201.41SAR 172.64
06-11-2021, AMSAR 228.00SAR 211.00SAR 201.41SAR 172.64
05-11-2021, AMSAR 225.00SAR 208.00SAR 198.55SAR 170.18
04-11-2021, AMSAR 218.50SAR 206.00SAR 196.64SAR 168.55
03-11-2021, AMSAR 224.00SAR 207.00SAR 197.59SAR 169.36
02-11-2021, AMSAR 225.00SAR 208.00SAR 198.55SAR 170.18
01-11-2021, AMSAR 224.00SAR 207.00SAR 197.59SAR 169.36
31-10-2021, AMSAR 224.00SAR 207.00SAR 197.59SAR 169.36
30-10-2021, AMSAR 224.00SAR 207.00SAR 197.59SAR 169.36

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