On April 24, 2023, gold rates in Saudi Arabia. Saudi Arabia has a rich history of gold trade, with the precious metal being an integral part of the kingdom’s culture and economy.
The rates were as follows:
1 gram of 24K gold: 238.99 Saudi Arabian riyals (SAR)
1 gram of 22K gold: 219.40 SAR
1 gram of 21K gold: 209.12 SAR
1 gram of 18K gold: 179.25 SAR
1 gram of 14K gold: 139.81 SAR
1 gram of 10K gold: 99.66 SAR
1 gram of 6K gold: 59.75 SAR
Saudi Arabia has a rich history of gold trade and is known for producing some of the highest quality gold in the world. The gold market in Saudi Arabia is highly regulated by the Saudi Arabian Monetary Authority (SAMA), which oversees the country’s financial and banking systems, and sets guidelines for the quality and purity of gold sold in the market.
The Deira Gold Souk in Riyadh is a popular gold market, home to numerous gold shops selling a wide range of gold jewelry and other products. The Saudi Arabian Mining Company (Ma’aden) is a state-owned company responsible for mining and producing gold and other minerals in the country.
The Saudi Arabian government has been taking steps to develop the country’s gold market further, encouraging the growth of the jewelry industry and investing in the development of new gold mines and production facilities, in a bid to diversify the economy and reduce dependence on oil. The gold market in Saudi Arabia is a dynamic and thriving industry, attracting buyers and investors from around the world.
