Gold rate today in Jeddah (SAR)

Gold rate in Jeddah today

Converted at today's rates, pure 24k gold costs about 483.21 SAR per gram in Jeddah, and 22k about 442.96 SAR. Per 10 grams, a common size for small bars and rate boards, that is about 4,832.14 SAR for 24k. These are spot-based figures, before any tax, premium or making charge. Jeddah is the gateway to Makkah and a Red Sea trading port, so its gold shops serve a far more international crowd than most Saudi cities.

What moves the gold price in Jeddah

The Saudi riyal gold price is simply the dollar price of gold multiplied by the exchange rate. Today that means about $4,007.9 per ounce times 3.7500 SAR per dollar. The riyal has been pegged to the US dollar at 3.75 since 1986, so the riyal gold price follows the dollar price almost one for one. Day to day, nearly all of the movement you see on a Saudi rate board comes from the international gold price itself, not from the currency.

The dollar price itself responds to US interest-rate expectations, the strength of the dollar, inflation data, central-bank buying and geopolitical risk. Our guide to what moves gold prices covers each in turn.

Premiums, making charges and tax in Jeddah

The shelf price in Jeddah is higher than the converted figure above. A shop adds 15% VAT on jewellery (investment gold of 99% purity or more is zero-rated), making charges and the shop's margin. On jewellery, making charges are quoted per gram on top of the gold rate and often lower on plain 21k pieces than on fine 18k work, so two pieces of the same weight and purity can carry very different prices. 21k is the everyday standard for Saudi jewellery, 22k and 18k are widely sold, and 24k comes as bars and coins.

Where gold is bought in Jeddah

The gold souk in Al-Balad, Jeddah's historic old town, is the traditional heart of the trade, with modern jewellery shops along Tahlia Street and in the big malls. When comparing shops, ask for the gold rate per gram, the purity, the making charge and the buy-back price separately; that is the only way to see which offer is really cheaper.

Buying seasons in Jeddah

Pilgrims passing through for Hajj and Umrah buy gold as gifts to take home, which keeps demand steady across the year, alongside Ramadan, Eid and weddings. Across Saudi Arabia, demand is strongest around Ramadan and the two Eids, the wedding season, and the Hajj and Umrah periods when pilgrims buy gold as gifts. Seasonal demand tends to show up in shop premiums, promotions and queues rather than in the international price, which is set by global flows. Knowing the calendar helps explain why a local quote can look expensive or cheap against this page in a given week.

Gold market hours in Jeddah

The international gold market trades almost around the clock on weekdays. In Jeddah the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 15:00–19:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 12:30 and 17:00 in Jeddah, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 15:30 local time. The week's trading closes at 00:00 on Saturday and reopens at 02:00 on Monday, Jeddah time; over the weekend the price on this page is the last close. Saudi Arabia has no domestic gold futures market, so local rate boards follow the international price, usually updated several times a day. Our gold market hours tool shows the sessions in any time zone.

Jeddah compared with Riyadh

Jeddah and Riyadh both price gold in SAR off the same international price and the same exchange rate, so the converted figure is identical: about 483.21 SAR per gram of 24k in both. Any difference at the counter comes from making charges, dealer premiums and how hard the shops compete.

How this SAR gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,007.9 at the last update. Second, the exchange rate: 1 USD = 3.7500 SAR. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,007.9 ÷ 31.1035 = $128.86.
2. Price per gram in SAR = $128.86 × 3.7500 = 483.21 SAR (24k, pure gold).
3. Price per 10 grams = 483.21 × 10 = 4,832.14 SAR.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.750.

The gold price comes from COMEX gold futures, which track spot XAUUSD closely but are not identical to it. The exchange rate is a mid-market rate; the rate your bank or money changer gives you will be slightly different. If you want to do the maths yourself, our guide to converting the gold price per gram, tola and kilo walks through every step with worked examples.

What this price does not include

The figures above are the international spot price converted into local currency. They are the starting point for every retail price in Jeddah, but they are not the price you will pay or receive at a shop. The retail or "jeweller" price adds some or all of these on top:

• Import duty or customs charges, where the country imports most of its gold.
• Sales tax, GST or VAT, which may apply to jewellery, to bars and coins, or to both, depending on local law.
• Dealer premium: the margin a bullion dealer or bank adds to the spot price for bars and coins, usually larger on small pieces.
• Making charges (labour) on jewellery, often a percentage of the gold value or a fixed amount per gram.
• Local supply and demand, which can push the physical price to a premium or a discount against the international price for weeks at a time.

When you sell, the buyer usually quotes below the spot-based number and deducts for purity testing, wear and sometimes stones. The gap between the buying and the selling price is the real cost of owning physical gold, and it varies a lot between shops, so it is worth asking several.

Frequently asked questions