Gold prices in Saudi Arabia jump to record high today
Gold markets in Saudi Arabia witnessed a significant increase on Wednesday, January 21, 2026, with the price of a gram of 21-karat gold, the most popular and traded type in the local market, jumping to a new high. This rise comes amid continued volatility in the price of the precious metal on global exchanges, reflecting economic uncertainty and driving investors towards safe havens.
Gold price list today in Saudi Arabia
In morning trading, gold prices in Saudi Arabia recorded the following levels compared to yesterday's closing prices:
- The price of a gram of 24-karat gold reached 588.75 riyals, compared to 573 riyals yesterday.
- The price of a gram of 22-karat gold rose to 539.75 riyals, compared to 525.25 riyals yesterday.
- The price of a gram of 21-karat gold: recorded 515.25 riyals, compared to 501.5 riyals yesterday.
- The price of a gram of 18-karat gold reached 441.75 riyals, compared to 429.75 riyals yesterday.
- The price of a gram of 14-karat gold reached 343.5 riyals.
- The price of a gram of 12-karat gold has risen to 294.5 riyals.
- The price of an ounce of gold: recorded 18,315 riyals.
- The price of a gold pound was 4122 riyals.
Global factors driving gold prices up
This sharp rise in local prices is directly attributable to movements in the global market. Gold is a global commodity priced in US dollars, so any changes in the dollar's strength or the monetary policies of major central banks, particularly the US Federal Reserve, directly affect its value. When the dollar weakens, gold becomes cheaper for holders of other currencies, increasing demand and driving up its price. Interest rate decisions also play a pivotal role; lower interest rates reduce the opportunity cost of holding gold, which does not generate interest, thus increasing its appeal to investors.
Gold as a safe haven in times of uncertainty
Throughout history, gold has maintained its status as a safe-haven investment asset, sought by investors to protect their wealth during periods of high inflation, geopolitical tensions, or economic recession. In the current volatile global economic climate, the demand for gold bars and coins is increasing as a hedge against the volatility of stock and bond markets. This growing demand from individuals and central banks worldwide is contributing to rising prices, a trend we are witnessing today in the Saudi market, which is an integral part of the global economic system.
The impact of rising gold prices on the Saudi consumer
Domestically, this price surge has a clear impact on both consumers and investors. For those about to get married or looking to buy gold jewelry as gifts, this increase translates to higher costs. However, for investors who hold gold as part of their portfolios, this rise represents capital gains. Traders in the Saudi gold market closely monitor global price trends, as even slight changes in international exchanges are immediately reflected in the prices offered in local shops, with the added cost of labor that varies from piece to piece.
