Gold Prices in Saudi Arabia
In Saudi Arabia, 24K was trading at 236.64 SAR per gram at the opening of the market,
while 22K was trading at 217.71 SAR, 21K at 207.06 SAR, and 18K at 177.48 SAR per gram.
|Unit||Latest Price (SAR)|
|24k price per gram||236.64|
|22k price per gram||217.71|
|21k price per gram||207.06|
|18k price per gram||177.48|
|24k price per OZ||7,359.39|
Previous gold prices in Saudi Arabia
These are the gold prices in Saudi Arabia for the last few days:
Gold History Chart in Saudi Arabia
Gold Rate in Saudi Arabia Today
Gold is one of the world’s most valued precious metals. It belongs to the commodities market, and its prices can be affected by the basic theory of supply and demand against the US dollar.
This article will be dedicated to listing KSA’s updated gold prices with the latest gold charts for 24, 22, 21, 18, and 12 Carat, as well as prices of gold per ounce, pound, and kilo.
In addition, the article will list analysts’ reviews of gold against the US dollar, live gold rate in Saudi Arabia, current gold price in Saudi Arabia, gold rate in Saudi Arabia today, and gold rate in Saudi Arabia for 10 grams.
Frequently Asked Questions
What Affects Gold Prices?
Determining the price of Gold can be complicated without knowing the factors that dictate its perceived value, which include:
The US exchange rate: The price of gold is inversely related to the value of the United States dollar. A strong U.S. dollar tends to keep the price of gold low and thus reduces the demand for it as investors prefer to buy the U.S. dollar at the expense of gold, while a weaker U.S. dollar is likely to drive the price of gold higher by increasing demand.
Demand and Supply: The prices of gold are ruled by the laws of demand and supply. When the demand for gold rises, the price will rise as well.
Inflation: As the prices of gold are inversely related to the value of the U.S dollar, Gold is a hedge against inflation. When prices rise (inflation) the value of the dollar falls and the price of gold will rise.
Can I Invest in gold in Saudi Arabia, and How?
Yes, anyone can investors in gold in KSA either by mining stocks, buying shares of gold mining companies and associated companies, or even buying gold bullion bars or coins and selling them at a higher price in the future.
What Are the Best Gold Karats?
Gold Karats is the measure of gold purity or fineness, which refers to the gold-to-metal additive ratio like Silver, palladium, and Copper.
Purer gold does not mean better; it is just worth more money.
These are also often quoted as a percentage:
- 24 Karat: It consists of 99.5% and more Gold (used in electronic components within medical devices such as pacemakers and ventilators)
- 21 Karat: It consists of 91.7% of gold (used in making jewelry)
- 18 Karat: It consists of 75.0% of gold (used in making rings and watches)
- 14 Karat: It consists of 41.7% of gold
When Is Well-Timed To Buy Gold in KSA?
You can easily buy gold in Saudi Arabia with the hereness of many popular stores, but keen shoppers need to check the gold rate in Saudi Arabia today.
It is good to compare prices before buying, but at the same time, it is also advisable to buy from a trusted jeweler or known brands.
How To Calculate Gold Price in Saudi Arabia?
The current gold price in Saudi Arabia is calculated by its quality and weight. Moreover, there may be additional making charges depending on the quality and purity of the product.
To calculate gold price today in Saudi Arabia, you should follow these steps:
- Determine the type of karat, whether it is 24, 21, or 18 to calculate the gold price today in Saudi Arabia.
- Know the weight of jewelry in grams.
- Know the value of workmanship.
- Find out the value of the goods and services tax (GST).
- Multiply the total number of grams (e.g. gold rate in saudi arabia for 10 grams) by the price of grams to get the total price of gold.
- 10g of 22K gold price in KSA = 2,060 SAR
- 10g of 21K gold price in KSA = 1,966 SAR
What Determines the Gold Rate In Saudi Arabia Today?
Gold price today in Saudi Arabia is calculated in US dollars before converting to SAR because gold is dollar-denominated metal.
What Determines the Gold Rate in Saudi Arabia in general?
Today gold rate in Saudi Arabia is consistently rising and falling, directly or indirectly affected by many factors such as:
- The global oil price increase, which leads to a rise in demand; and hence raise the price of gold (Saudi Arabia gold rate)
- Interest rates have an inverse relationship with gold, so typically; gold price drops when the central bank raises rates, and the other way round.