- Gold in Saudi Arabia
People have always been interested in the evolution of gold rates. Gold rates in Saudi Arabia have been a perfect example as to how the price of gold may differ between different parts of the world. Gold is an important asset in Saudi Arabia and almost everyone has at least one gold chain or ring. The higher availability of gold in Saudi Arabia has made it so that gold prices are relatively low when compared to those in Europe.
Types of Gold
Pure gold doesn’t really exist. Even in it’s purest form, there is still a small amount of impurities. The closest to pure gold is 24 ct gold, which is 99.9% pure. The gold price will be different for each purity of gold. Therefore the price of 22ct gold will be higher than that of the 18 ct gold, for example. It is true that in Saudi Arabia one is more likely to find high purity gold than in other countries. But still, all types of gold are available here: from 9 ct gold to the 24 ct gold.
Where to Check For Gold Rates in Saudi Arabia
There are specialised websites which offer updated online exchange rates and market quotations for all gold types except the 9 ct gold. You will see that the 9ct gold price per gram is not quoted on the Saudi Arabia gold market. The official gold rates in Saudi Arabia don’t include the rate for the 9 ct gold. This is because the availability of 9 ct jewellery is questionable in Saudi Arabia. The country tends to prefer 24 and 22 ct gold.