Gold prices today in Saudi Arabia (live update): Your comprehensive guide to investing, buying and selling

Why is this guide your first reference before buying or selling gold in Saudi Arabia? Are you thinking about buying gold today and asking yourself: "What is the price of gold now?", or perhaps "Is this a good time to invest?". Maybe you have a piece of gold you want to sell and are wondering how to get the best price, or you're torn between buying a bar for savings and jewelry for decoration. You may also be wondering how to calculate the correct zakat for gold. If you're not the only one asking these questions, know that making any decision in the gold market without accurate knowledge could cost you dearly. This article isn't just a price list, it's a complete roadmap that has been prepared especially for you. By reading this guide, you will:

• The latest gold prices for all calibers at the time of publishing this guide.
• In-depth analysis of the factors that drive the market and experts' predictions for the future.
• Practical and smart tips to buy and sell on the best terms and avoid losses.
• A simple and clear explanation of zakat rulings and how to calculate them accurately.

By the end of this article, you will have the knowledge and confidence to make wise financial decisions to protect and grow your wealth.

Gold prices today in Saudi Arabia, a direct update and your comprehensive guide to safe investment

Welcome to your one-stop guide to gold prices in Saudi Arabia. Whether you're a seasoned investor looking to diversify your portfolio, buying an expensive gift, or even planning for long-term savings, understanding the gold market is your first step towards making a wise decision. In this article, we will not only provide you with the latest prices, but also dive deep into the analysis, give you expert advice, and answer all your questions about the precious metal. Gold has been a safe haven for ages, and in light of global and local economic changes, it is increasingly important as a tool to hedge against inflation and preserve the value of wealth. We realize that the process of buying or selling gold can be fraught with questions, from how to calculate the "workmanship" to knowing the best time to make a decision. This guide is designed to be your trusted reference, combining accurate data with practical guidance, to help you navigate the Saudi gold market with confidence. Follow us for live updates and in-depth analysis to help you safely achieve your financial goals.

Up-to-date list of gold prices in Saudi Arabia: Gram, Ounce, and Kilo Price

Knowing the real-time price of gold is the most important factor before making any decision. Prices change continuously throughout the day, influenced by global exchanges and local supply and demand factors. Please note that the prices listed below are Just a few examples To illustrate the differences between different calibers Not the current prices. Real prices are constantly changing and should be verified from a reliable source on the day of purchase or sale.

• An example of the price per gram of 24-karat gold: May be around 285 SAR (considered the highest purity and ideal for investment and bullion)
• An example of the price per gram of 22-karat gold: It may be about 261 Saudi Riyals (common in the jewelry industry and gold pounds)
• An example of the price per gram of 21-karat gold: It may be around SAR 249 (most common in jewelry markets in the region)
• An example of the price per gram of 18-karat gold: It may be around 214 SAR (used for intricate designs)

It is necessary Follow these prices periodically from a reliable sourceespecially if you plan to buy or sell in bulk. Always remember that the price of buying from stores will be slightly higher than these figures due to the addition of manufacturing and tax costs, while the selling price to stores will be lower.

Gold bars and gold pounds prices for investors today

When it comes to investing in gold to preserve value or make a return, gold bars and pounds are the best choice. This is because they have a significantly lower cost of manufacturing compared to gold coins, bringing their price closer to the world's raw price. Actual prices are based on the daily gram price, but their structure is as follows:

• Gold Bullion Price (24K): It is calculated by multiplying the weight of the bar (10 grams, 50 grams, 100 grams, etc.) by the daily gram price, adding a small profit margin.
• Gold pound prices: It is calculated based on its weight (usually 8 grams of 22 caliber) and the price per gram on the day of purchase.

Investing in bullion and pounds is a highly liquid investment, as you can easily sell them at any time and get paid in cash. When buying, make sure to get an itemized invoice and a certificate documenting weight and caliber, and look for encapsulated bars with the manufacturer's or bank's logo to ensure quality and authenticity.

Gold price differences between cities in Saudi Arabia: Where to buy at the best price?

Traders in the gold market may notice slight differences in prices between major cities in the Kingdom such as Riyadh, Jeddah, and Dammam. This difference, although small in the price per gram, can make a difference when buying large quantities. But what are the reasons for these differences?

1. Transportation and shipping costs: Transporting gold between cities requires security measures and expensive insurance, and these expenses may be indirectly added to the final price.
2. The amount of competition, supply and demand: In cities with large and highly competitive gold markets such as Jeddah and Riyadh, you may find better prices and a variety of offers due to the large number of shops trying to attract customers. In smaller cities, prices may be slightly higher due to the lack of competition.
3. Operating costs and rentals: Store rentals and operating costs vary from city to city, and this in turn is reflected in the profit margin set by the merchant.

Practical advice: In general, the differences in the price of raw gold between cities are not significant. The biggest difference lies in the "workmanship price" set by each dealer. So, instead of focusing on the city, it's best to compare the offers of several reliable shops within your city. Use price comparison apps or make a field visit to major gold markets to get a clear idea of average prices and workmanship before making a final purchase decision.

Gold price analysis and expert forecasts: Is it time to buy or sell?

Understanding the factors that drive gold prices is key to making successful investment decisions. The price of gold does not rise or fall randomly, but is the result of a complex interplay between global and local economic and political forces. In this section, we'll analyze these factors and provide expert opinions to help you decide whether now is a good time to buy as a long-term investment or sell for profit. Remember, timing the market perfectly is difficult, but deep knowledge enables you to make informed decisions rather than emotional reactions to market fluctuations. Investing in gold requires patience and strategic vision, and this analysis will provide you with the tools to build that vision.

How do interest rates and the dollar affect the price of gold in your portfolio?

There is a close and complex historical relationship between the price of gold and both interest rates and the value of the US dollar. Understanding this relationship helps you predict the future movement of gold.

• Relationship with the U.S. dollar: The relationship between gold and the dollar is often inverse. As gold is priced globally in dollars, when the value of the dollar rises, gold becomes more expensive for buyers using other currencies, which can lead to lower demand and therefore a lower price. Conversely, when the dollar weakens, gold becomes cheaper for foreign investors, demand increases and the price rises. Since the Saudi Riyal is pegged to the dollar, the strength of the dollar globally directly affects the purchasing power of the Riyal when buying gold.
• Relationship with interest rates: The relationship is also often inverse. Gold as an investment asset does not earn a return or interest (like bonds or bank deposits). When major central banks, such as the US Federal Reserve, raise interest rates, interest-bearing investments (such as bonds) become more attractive to investors. This may prompt some investors to sell gold and buy these assets, reducing the demand for gold and causing its price to fall. Conversely, when interest rates are lowered, bonds become less attractive and investors turn to gold as a store of value, driving up its price.

The impact of the Saudi economy and Vision 2030 on the future of gold prices

While gold prices are heavily influenced by global factors, the growing influence of the local economy cannot be overlooked, especially in light of the major transformations taking place in Saudi Arabia. Vision 2030 is not just an economic plan, but a roadmap for restructuring the economy and diversifying away from oil, which has direct and indirect implications for the gold market.

• Increased purchasing power: As non-oil sectors grow and new jobs are created, income levels for citizens and residents are expected to rise. This increase in purchasing power may translate into an increase in demand for gold, both for jewelry as a consumer commodity and for bullion as a means of savings and investment.
• Evolution of the financial sector: Vision 2030 is working to develop the Saudi financial market and attract foreign investment. This development may include the launch of new gold-related investment products, such as Shariah-compliant ETFs, making it easier for a wider segment of society to invest in gold without having to physically buy it, which in turn boosts aggregate demand.
• Economic stabilization: The success of economic diversification plans enhances the stability and robustness of the Saudi economy, making it less vulnerable to oil price fluctuations. This stability increases the confidence of local investors and provides a safe environment that encourages long-term investments, including gold as an essential part of any balanced investment portfolio.

Gold price forecast for the second half of 2025: Experts answer

Most analysts and economists agree that the future of gold prices in the second half of 2025 and beyond will be influenced by a host of interrelated factors. No one can accurately predict the price, but the key trends that will shape the market can be observed.

1. Monetary policies of global central banks: The direction of the US Federal Reserve and major central banks on interest rates will remain the main driver. Any hint of the start of a rate-cutting cycle would be a strong positive signal for gold, as it reduces the opportunity cost of holding the yellow metal.
2. Geopolitical tensions: Unfortunately, gold benefits from times of uncertainty. Any escalation in international conflicts or political instability in globally influential regions prompts investors to turn to gold as a safe haven, driving up demand and prices.
3. Global inflation levels: If inflation rates continue to remain above target in major economies, gold will remain an attractive option for investors seeking to protect their wealth from eroding purchasing power.
4. Central bank demand: Central banks around the world, especially in emerging economies, continue to increase their gold reserves. This significant institutional demand provides strong and sustained support for gold prices over the long term.

Expert advice: Instead of trying to time the market, it is advisable to follow the Dollar-Cost Averaging strategy. This method helps build a long-term gold investment position and mitigates the risk of buying at a price top.

Your guide to choosing the right type of gold for your purpose: Investment, savings, or decoration?

Before you head to the gold market, it's important to ask yourself a fundamental question: What is my primary goal in buying gold? The answer to this question will directly determine the type of gold you should buy, from its caliber to its shape. Gold bought for investment purposes is completely different from gold bought for decoration and occasions. Confusing these two goals can lead to a financial loss when selling. This section is designed to be your personal guide, explaining the key differences and providing a comprehensive comparison to help you make the right decision in line with your financial and personal ambitions. Whether you're looking for an investment asset that will grow over time or a piece of art to show off, understanding your options is the key to success.

The fundamental difference between buying gold for investment and buying it for decoration

Gold may look the same to many, but there are crucial differences between buying it as an investment asset and buying it as jewelry. Understanding these differences protects you from paying unnecessary costs and ensures that you achieve your desired goal.

• The goal of the purchase:
  • Investment Gold: The goal is to preserve the value of money and protect it from inflation, with the potential for long-term capital gains. The focus here is on weight and purity, not form or design. Examples include gold bars and coins.
  • Jewelry Gold: The goal is personal use and looking stylish at events. Beauty, design, and craftsmanship are the most important factors. Although it retains value, it is not the ideal investment vehicle.
• The cost of the plant:
  • The investment is gone: The cost of manufacturing is very low or non-existent. You're essentially paying the value of the raw gold, making it ideal for resale as you don't lose much of its value.
  • The decorations are gone: The cost of workmanship is high, up to 20% or more than the value of the gold. This cost represents the design and craftsmanship fee, a value that is never recouped upon sale. When jewelry is sold, it is valued based on gold weight only after deducting the claws and stones.
• Liquidity and resale:
  • The investment is gone: Its liquidity is very high. Gold bars and coins can be easily sold anywhere in the world at a price very close to the world price.
  • The decorations are gone: Relatively less liquid. It can be a bit harder to sell, and you often lose the full value of the factory and tax you paid when you bought it.

Comprehensive comparison: Gold bars or gold jewelry, which is better for your investment?

To help you make an informed decision, here are Table compares directly between gold bars and gold jewelry from a purely investment perspective:
Conclusion: If your primary goal is to invest and make a financial return, then gold bars are the only and undisputedly best option. If you want a piece that you can wear and still be a store of value, you can buy gold jewelry knowing that you will lose the value of the workmanship when you sell it.

Gold Caliber Guide in Saudi Arabia: What's the difference between 24, 22 and 21 caliber and which one to choose?

"Caliber" or "carat" is the unit of measurement for the purity of gold. Understanding the differences between different calibers helps you choose the right gold for your needs and budget. Pure gold is made up of 24 parts, so

• 24K gold:
  • Purity: It is the purest gold, with a gold content of 99.9%.
  • Characteristics: Its color is a bright, shiny yellow, but it is very soft and easily scratched.
  • Use: Due to its softness, it is rarely used in intricate jewelry making. It is the standard for investment gold bars.
  • Who is it for? For investors who want to buy gold in its purest form.
• 22-caliber gold (22K):
  • Purity: It consists of 22 parts gold and two parts other metals (such as copper or silver), which means it has a gold content of 91.6%.
  • Characteristics: Harder and more durable than 24K, making it suitable for jewelry.
  • Use: Very common in the manufacture of gold pounds and some types of fine jewelry in the Gulf region and India.
  • Who is it for? For those who want jewelry with very high purity or for investors in gold pounds.
• 21K gold:
  • Purity: It consists of 21 parts gold and 3 parts other metals, with a gold content of 87.5%.
  • Characteristics: It offers a perfect balance between purity, durability and price. It has a rich golden color and is tough enough to withstand daily use.
  • Use: It is the most popular and widespread caliber in Saudi Arabia and most Middle Eastern countries. It is used in most types of gold jewelry.
  • Who is it for? The perfect choice for the majority of jewelry buyers in Saudi Arabia, combining value and practicality.

5 smart tips for buying and selling gold in Saudi Arabia and avoiding losses

Whether you're buying your first piece of gold or selling an old investment, knowing a few secrets and practical tips can save you a lot of money and protect you from scams. The gold market, despite its glamor, has its own rules that a smart buyer and seller must understand. In this section, we'll distill years of experience into five focused and straightforward tips, covering everything from choosing a reliable store, understanding the hidden cost of "artifacts", to strategies for selling at the best possible price. Follow these guidelines to ensure your gold experience is profitable and safe every time.

List of the most popular gold shops in Riyadh, Jeddah and Al Khobar

Choosing the right shop is the first line of defense to ensure the quality and authenticity of the gold you buy. Dealing with a reliable and reputable shop gives you peace of mind and ensures you get a fair price and a legitimate invoice. Rather than mentioning specific names, we guide you through the types of stores and major brands that are a safe choice in major cities such as Riyadh, Jeddah, and Al Khobar:

• Big, recognizable brands: Look for large companies that have multiple branches across the Kingdom. These companies (such as Damas, L'azurde, and Alfardan Jewelry) care about their reputation and offer guaranteed stamped gold, as well as clear invoices and exchange and return policies.
• Shops in major gold markets: Traditional gold markets (such as Al Thumairi in Riyadh or Al Balad gold market in Jeddah) are characterized by a large number of shops, creating a competitive environment that may help you get a better factory price. Choose old and reputable shops within these markets.
• Authorized bullion sales platforms: If your goal is to buy investment bullion, look for authorized dealers of local banks or companies that specialize in trading bullion. These provide bars with their certificates and the lowest possible manufacturer's price.
• Avoid unknown vendors: Stay away from buying from unknown individuals or through social media platforms that do not have a clear business entity, as you may be at risk of buying fake or stolen gold.

"Goldsmithing: Everything you need to know to avoid overpaying for gold

The "workmanship" is the most important factor that determines the final price you pay when you buy gold jewelry, and it is also the biggest part you lose when you sell. It is simply the "manufacturing fee" for the piece, which includes the cost of designing, carving, polishing, polishing, and mounting the lobes, as well as the dealer's profit margin.

• How is it calculated? Some dealers add a lump sum amount in riyals per gram (e.g., 25 riyals per gram), while others add a percentage of the gold price.
• Why does it vary from piece to piece? The value of workmanship depends mainly on the complexity of the design and the effort put into it. A piece with intricate details and hand carvings will have a much higher workmanship than a simple piece. Imported gold (Italian or Turkish) is often more expensive than local gold.
• Can it be negotiated? Yes, absolutely! The price of raw gold is fixed globally and cannot be negotiated, but the workmanship is the part where the trader has flexibility. Never hesitate to negotiate the price of the workmanship, especially when buying in bulk or paying in cash. Visit more than one store and ask about the price of the workmanship for the same piece to get the best offer.
• Manufactured on sale: Remember that you won't get a single riyal back from the value of the workmanship when you sell your gold jewelry. The dealer will weigh the piece and buy it from you at that day's raw gold price.

Before you buy gold: A 7-point checklist

To ensure a successful and safe purchase, use this quick checklist before making any payment. This checklist serves as a shield of protection for you as a consumer.

1. [ ] Check the stamp: Ask the seller to show you the caliber stamp on the gold piece. In Saudi Arabia, each piece must bear a stamp indicating the caliber (e.g. 21K or 18K).
2. [ ] Weigh the gold in front of you: Make sure the seller uses a sensitive and certified scale, and watch the weighing process yourself for accuracy.
3. [ ] Ask for the price per gram and mill separately: Don't settle for just the total price. Ask for the price of a gram of gold today, and how much the added processing cost is per gram. This gives you transparency and the ability to compare.
4. [ ] Examine lobes and stones: If the piece contains lobes or gemstones, ask if their weight is deducted from the total weight of the gold. The rule is to pay only for the net gold weight.
5. [ ] Get an itemized and official invoice: The invoice must include the name of the store, date of purchase, description of the piece, net weight of gold, caliber, gram price, factory value, and total price. This invoice is your proof of ownership and is essential when selling or claiming any right.
6. [ ] Understand the replacement and return policy: Ask about the store's policy clearly before you buy. Some stores allow exchanges within a certain period with a small discount, while others do not.
7. [ ] Trust the seller: Finally, deal with a seller that you feel comfortable with and who answers all your questions openly and transparently. If you feel any hesitation or lack of clarity, it's best to look elsewhere.

3 proven strategies to sell gold at the highest possible price in the Saudi market When you decide to sell your gold holdings, your goal is to get the best possible price and minimize your loss. Selling haphazardly can cost you dearly. Follow these three strategies to maximize the return on your gold sale:

1. Timing and comparison strategy:
   • Keep track of global prices: Don't sell on a day when the price of gold is low globally. Follow the economic news and wait for a favorable time when the price is high.
   • Compare purchase offers: Don't go to one shop and sell directly. Take your gold to at least 3-4 trusted shops and ask them to evaluate it and give you a quote. You will be surprised at the differences in the price offered. Always go for the highest bid.
2. Cleaning and display strategy:
   • Clean the gold thoroughly: A clean and shiny piece of gold looks more expensive and makes a better impression on the buyer. You can gently clean it at home with warm soapy water and a soft brush.
   • Keep the original invoices: If you have the original invoice or any certificates for the piece, submit them along with the gold. This increases the credibility of the piece and makes the appraisal process easier, especially if it contains precious stones.
3. End-user sales strategy (if applicable):
   • If your gold jewelry is of a unique design or from a luxury brand and is still in excellent condition, you may get a better price by selling it to someone else who intends to use it (a friend, relative, or via a trusted buying and selling platform) instead of selling it to a goldsmith who will melt it down. In this case, you can recover part of the value of the workmanship you paid, which is impossible when selling to shops.

Your complete guide to gold zakat: The legal ruling and how to calculate it accurately

Gold is not only an investment asset or an ornament, it is also a zakatable asset if certain conditions are met. Zakat is a pillar of Islam and a known right of the poor and the poor. There is a lot of controversy and questions about how to calculate gold zakat, and the difference between ornamental and savings gold. In this guide, we aim to simplify these legal rulings and provide a practical and clear method that enables you to]

from performing this great pillar with confidence and reassurance. Your correct understanding of gold zakat ensures that your money is purified and grows, and that you fulfill your religious duty to the fullest, thus blessing you with your livelihood and your money.

Do you have to pay zakat on gold? Conditions and nisab in a simple way

Yes, zakat is due on gold if two basic conditions are met:

1. Quorum: "Nisab" is the minimum amount of gold that if you own it, you owe zakat. The nisab of gold is 85 grams of pure gold (24 karat).
   • How do you calculate the quorum for other calibers? If you own gold of other calibers (such as 21 or 18), you need to calculate the weight of pure gold in it. The method is simple: (weight of gold you own x caliber number) ÷ 24. If the result is 85 grams or more, you have reached nisab.
   • Example: A woman owns 95 grams of 21-karat gold. Is it nisab?
   • Calculation: (95 grams x 21) ÷ 24 = 83.125 grams. In this case, her gold did not reach the nisab, so there is no zakat on it.
2. Squint: This means that you must have owned the gold for a full Hijri year (about 354 days). If you buy gold and it reaches the nisab, you start calculating the hawl from the day of purchase, and you pay zakat on the same day of the next Hijri year.

If both of these conditions are met, you owe zakat. If one of them is not met (e.g., you own less than 85 grams, or you sell the gold before a Hijri year has passed), you do not owe zakat.

In steps: How to calculate gold zakat in Saudi Riyals for your property Calculating the amount of zakat to be paid is simple and straightforward. The amount of zakat is 2.5% (or a quarter of a tenth) of the value of the gold you own that meets the zakat conditions. Here are the steps in detail:

Step 1: Determine the weight of gold subject to zakat

• Collect all the gold you own with the intention of saving or investing (bars, pounds, and even jewelry that is never worn and hoarded for the future). Make sure the total amounts to nisab (85 grams of 24-karat gold) and that it has passed hawl.

Step 2: Know the price of a gram of gold on the day of zakat

• On the day you decide to take out your zakat (after a Hijri year has passed), check the used gold selling price (not the purchase price) for the caliber of gold you own. You can ask any reliable gold shop for the "21/24 gold purchase price from a customer today".

Step 3: Calculate the total value of gold

• Multiply the weight of your gold (in grams) by the price per gram on that day.
• Example: You own 100 grams of 21-karat gold. The buying price of a used gram today is 240 SAR.
• Total value = 100 grams x 240 SAR/gram = 24,000 SAR.

Step 4: Calculate the amount of zakat

• Divide the total value by 40 (which is equivalent to 2.5%).
• Amount of Zakat to be taken out = 24,000 SAR ÷ 40 = 600 SAR.

You can take this amount out in cash and give it to the poor and those deserving of zakat.

Zakat ruling on gold between adornment and investment: When is it obligatory and when is it not?

This is one of the most confusing issues, and the deciding factor is the intention of the acquirer and the purpose of use. Jurists have differed on the ruling of zakat on women's jewelry used for adornment, but the ruling can be summarized as follows:

• Ornamental gold (intended for personal use):
  • Judgment: Zakat is not obligatory on it, even if it reaches nisab and goes through the hawl. This is the prevailing view among the community of jurists, and it is the approved one.
  • Officer: The intention at the time of purchase must be for the purpose of adornment and normal actual wear, and it must not reach the point of excessive extravagance that takes it out of the stage of normal adornment. If a woman buys gold to adorn herself on occasions, there is no zakat on her.
• Savings and investment gold (intended for treasure and saving money):
  • Judgment: Zakat is unanimously obligatory if it reaches the nisab and goes through the hawl.
  • Officer: This includes all types of gold bars and pounds. It also includes any jewelry purchased with the primary intention of saving, investing, or trading, even if it is rarely worn. It's all about the dominant intention.
• The mixed case (the intention of adornment and saving):
  • If the intention is mixed, the dominant intention will prevail. If the intention of adornment is the primary intention, and saving value is secondary, there is no zakat on it. However, if the intention to save the value is the primary intention and the adornment is incidental, zakat is obligatory. In case of doubt, the most prudent and innocent thing to do is to pay zakat.

Frequently asked questions about buying and investing in gold in Saudi Arabia

The world of gold is full of details and queries that keep many people busy. Whether you're a beginner or an expert, you may have some practical questions that need clear and straightforward answers. In this latest section, we've compiled the most common questions we receive from readers about buying gold in the Saudi market, and provided brief and helpful answers from experts. By doing so, we aim to remove any remaining ambiguity and provide you with the confidence to take your next steps into the world of gold investing.

Experts answer: Is now a good time to buy gold in Saudi Arabia?

This is the most frequently asked question, and the answer depends mainly on your investment objective and time horizon.

• For the long-term investor: If you are buying gold with the goal of saving and preserving value over the long term (5 years or more), any time is a good time to buy. History proves that gold retains and increases in value over the long term. Instead of trying to catch the "best price", experts recommend a cyclical buying strategy (buying a small amount every month or every few months) to build up a good average purchase price and minimize risk.
• For the short-term speculator: If you're looking to make a quick profit, the market is currently volatile. Entering now could be risky. The decision depends on your analysis of global factors such as interest rates and geopolitical tensions. In general, speculating in gold is not recommended for beginners.

Expert conclusion: Yes, it's a good time to buy if your goal is to hedge against inflation and invest for the long term. For speculation, you should be very cautious.

VAT on gold: How is it calculated and who pays it?

Saudi Arabia has a Value Added Tax (VAT) rate of 15%, but the way it is applied to gold varies depending on its type:

• Investment gold bars (24K and purity 99.9%):
  • Judgment: Exempt from VAT. This exemption is meant to encourage investment in pure gold. Therefore, when you buy a 24-karat gold bar, you won't pay any VAT on the value of the gold itself.
• Goldwork and jewelry:
  • Judgment: VAT is charged at 15%, but only on the "factory value" and not on the entire invoice.
  • How to calculate: Let's say you buy a piece of jewelry and the price of the raw gold in it is 4000 riyals, and the value of the workmanship is 500 riyals.
    • Total before tax = 4500 SAR.
    • Tax value = 15% of 500 riyals (factory value only) = 75 riyals.
    • The final price you will pay = 4000 + 500 + 75 = 4575 riyals.
  • Who bears it? The final buyer is the one who bears the cost of the tax. Make sure that the invoice shows the value of the gold, the value of the workmanship, and the tax value separately and clearly.

How to make sure the gold you buy is genuine and not counterfeit?

Buying physical gold is the cornerstone of your investment. Fortunately, the market in Saudi Arabia is well-regulated, but caution is still advised. Here are the most important ways to ensure the authenticity of gold:

1. Buy from a trusted source: This is the most important and most effective advice. Always buy from large, well-known and reputable stores. These merchants fear for their reputation and don't risk selling counterfeit goods.
2. Ask for the official invoice: An itemized invoice that contains the store's seal and shows the weight, caliber and price is a legal document that protects you. Any seller who is reluctant to give you an official invoice is a big red flag.
3. Look for the stamp: Every legal gold piece in Saudi Arabia must be stamped with a caliber stamp (e.g. 999 for 24-carat, 916 for 22-carat, 875 for 21-carat). Ask the seller to show you the stamp using a magnifying glass.
4. Magnet test: Real gold is not attracted to magnets. You can carry a strong magnet with you. If the piece is attracted to it, it is definitely not solid gold and may only be plated.
5. Weight and density: Gold is a very dense metal. If a piece feels disproportionately lightweight for its size, it could be cause for suspicion. Experts can perform a density test to be sure.

By following these steps, you can reduce the risk of buying counterfeit gold to almost zero, and ensure that your investment is safe and genuine.

Conclusion

We've come to the end of our journey into the world of gold in the Saudi market, and we hope this guide has lit the way for you. Before we wrap up, let's summarize the most important key points discussed:

• Informed Decision Making It's not just based on the intraday price, but on a deep understanding of the factors influencing the market and expert forecasts.
• Set your goal firstInvestment gold (bullion) is completely different from ornamental gold (jewelry) in terms of cost and resale value.
• Practical knowledge is the key to profitability. Always negotiate "workmanship", check the stamp, and get an itemized invoice to protect your rights whether you are a buyer or a seller.
• Owning gold is a responsibility It includes understanding Sharia obligations such as Zakat, and regulatory aspects such as VAT, which is an integral part of successful investing.

In conclusion, we thank you very much for taking the time to read this comprehensive guide all the way to the end. We hope that we have provided you with the knowledge and tools that will enable you to approach the gold market in Saudi Arabia with confidence and clarity. We wish you all the best in your next investment and purchasing decisions.