Where to buy Gold in Saudi Arabia

How and Where to buy Gold in Saudi Arabia and Today’s Variations of Gold Price in Riyadh

Saudi Arabia is one of the most famous gold dealers in the world; they are blessed with huge gold deposits and one of the world’s largest petroleum producer. World Gold Council (WGC) reported in June 2010 that the Saudi Arabian central bank contains over 322.9 tons of gold which is equivalents to 2.7% of its total reserves.

Saudi Arabia has an abundance of gold shops where you can find the best quality gold and pure gold products. In Saudi Arabia, you can buy all karats gold types including 6kt, 10kt, 14kt, 18kt, 22kt and even 24kt (the highest percentage of gold can be found in 24kt).

Where to Buy Gold In Riyadh

Riyadh, the capital of Saudi Arabia, has most gold shops than other cities, and most of them can be found in Batha. This place has cheaper gold compared to other places. There are some shopping malls the part of Saudi market that is another favorite place to find your desired gold shop. However, the prices in malls are somehow higher compared to other shops. Andalus Mall has several gold shops where you can buy gold at affordable prices.

If you are still worried about where to buy gold in Riyadh, Taiba market can be your favorite place to buy gold jewelry, various type of gold jewelry of different ranges can found at this place. Souk Sawka and Ad-Deerah Riyadh have some gold shops where you can buy old and new gold jewelry. Joy Alukkas, Damas and Malabar Gold are the other big names in the gold market of Saudi Arabia.

How to purchase gold in Saudi Arabia

This couldn’t be your comprehensive guide, how to purchase gold in Saudi Arabia, but here we can point you in the right direction to buy gold. Here you will know the tactics to get a good deal while buying gold in Saudi Arabia.

If you are going to buy raw gold you may have to buy small bars from 1 to 100 grams that would be one of your precious investments. Saudi Gold is mainly associated with the Lady Fortuna (PAMP/HTBM Suisse), and it designed for it. The packaging can be assayed, and it can be seen on the bars as well.

Gold Price in Riyadh

Gold Price in Riyadh Today

If we talk about the gold price in Riyadh today, it fluctuates. The gold prices are sometimes updated more frequently. This table is from gold prices in Riyadh today, July 17, 2015.

  • Gram Carat Gold Price/Gram
  • 1 Gram 24K                $36.79
  • 1 Gram 22K $33.73
  • 1 Gram 21K $32.19
  • 1 Gram 18K $27.59
  • 1 Gram 14K $21.47
  • 1 Gram 12K $18.40
  • 1 Gram 10K $15.33

Price Table Source

As above discussed Saudi Arabia is one of the largest gold market and have a number of gold dealers in the whole region including the capital Riyadh, due to the competitive edge in gold market you shouldn’t be worried about it. Even gold prices in Riyadh today are fluctuating but these are not making huge difference on you if you are buying a little amount but while buying huge quantity of gold you need to be careful about prices’ variation.

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