Buy Gold Saudi Arabia

Market overview. Saudi Arabia is the largest gold jewellery market in the Gulf: consumers bought 44 tonnes of gold jewellery in 2025, against 29.4 tonnes in the UAE, according to the World Gold Council. Most jewellery is sold in 21K (87.5% gold); 18K is common for gem-set and designer pieces and 24K for bars and coins. Prices are quoted per gram in Saudi riyals.

Where to buy. Jewellery is sold mainly in the gold souks of the big cities and by jewellery chains in shopping malls. Souk shops usually quote the day's per-gram price plus a making charge; chains tend to sell at fixed prices. Bars and coins are sold by licensed bullion dealers and some banks. Wherever you buy, ask for an invoice that shows the weight, the karat, the making charge and the VAT separately.

Hallmarks and checks. Look for the purity stamp (875 or 21K for 21K gold, 750 for 18K) and the maker's mark. For bars, keep the refiner's assay card and serial number; bars from refiners on the LBMA Good Delivery list are the easiest to resell.

VAT and making charges. The 15% VAT applies to the whole price of jewellery, not only to the making charge. Making charges are set by each shop and vary with the design, so compare the per-gram charge for similar pieces at two or three shops.

Working out a fair price. The spot equivalent shown above is the value of the gold itself. A shop's price adds the making charge and then VAT on the total: (gold value + making charge) × 1.15. A quote far above that for a simple piece is worth questioning.