Gold prices in key cities of Saudi Arabia such as Dammam, Jeddah, and Riyadh tend to mirror global trends. With global gold rates recently surging to $1800 per ounce, we’ve observed a corresponding sharp uptick in gold prices within Saudi Arabia.
Today 22 Carat Gold Price Per Gram in Saudi Arabia (SAR)
Gram
Today
Yesterday
1
SAR 267
SAR 269
8
SAR 2,136
SAR 2,152
10
SAR 2,670
SAR 2,690
100
SAR 26,700
SAR 26,900
Today 24 Carat Gold Rate Per Gram in Saudi Arabia (SAR)
Gram
24K Today
24K Yesterday
Price Change
1
SAR 288
SAR 290
SAR -2
8
SAR 2,304
SAR 2,320
SAR -16
10
SAR 2,880
SAR 2,900
SAR -20
100
SAR 28,800
SAR 29,000
SAR -200
Today 18 Carat Gold Rate Per Gram in Saudi Arabia (SAR)
Gram
18K Today
18K Yesterday
Price Change
1
SAR 218.50
SAR 220.10
SAR -1.60
8
SAR 1,748
SAR 1,760.80
SAR -12.80
10
SAR 2,185
SAR 2,201
SAR -16
100
SAR 21,850
SAR 22,010
SAR -160
Today 22 Carat Gold Price Per Gram in Saudi Arabia (INR)
Gram
22K Today
22K Yesterday
Price Change
1
₹5,941.36
₹5,985.87
₹-44.50
8
₹47,530.91
₹47,886.95
₹-356.04
10
₹59,413.64
₹59,858.69
₹-445.05
100
₹5,94,136.41
₹5,98,586.87
₹-4,450.46
Today 24 Carat Gold Rate Per Gram in Saudi Arabia (INR)
Gram
24K Today
24K Yesterday
Price Change
1
₹6,408.66
₹6,453.17
₹-44.50
8
₹51,269.30
₹51,625.34
₹-356.04
10
₹64,086.62
₹64,531.67
₹-445.05
100
₹6,40,866.24
₹6,45,316.70
₹-4,450.46
Gold prices in Saudi Arabia are closely tied to global market conditions. The rates for 24 karat gold are influenced by a variety of factors including inflation rates, central bank interest rates, supply and demand dynamics, and economic growth indicators. Fiscal year 2022 saw significant growth in gold prices, a trend expected to continue into 2023. Anticipated interest rate cuts in the coming quarters are likely to further bolster gold prices. Rising interest rates typically have a negative impact on gold, as it competes with interest-bearing investments.
In Saudi Arabia, gold is exempt from value-added tax (VAT) if its purity is 99% or higher, making prices comparatively lower than in other countries. Predicting the long-term trajectory of gold prices is challenging due to various factors such as pandemic-related volatility, changes in monetary policy, geopolitical tensions, and fluctuations in demand. If demand surges in the market, gold prices are expected to rally accordingly.
