Gold prices in Saudi Arabia remained relatively stable on Thursday, January 1, 2026, coinciding with the start of the new year and continued volatility in global gold markets. This stability provides consumers and investors with an opportunity to assess the market, particularly as everyone awaits global economic data that could influence price trends in the coming period.
Details of today's gold prices in Saudi Arabia
Prices for various calibers remained stable in morning trading, recording the following figures:
- The price of a gram of 24-karat gold: recorded 520.25 riyals, which is the purest karat and preferred for investment bullion.
- The price of a gram of 22-karat gold: settled at 477 riyals.
- The price of a gram of 21-karat gold reached 455.25 riyals. This karat is the most traded and sold in the Saudi markets due to its suitability for gold jewelry.
- The price of a gram of 18-karat gold: recorded 390.25 riyals.
- The price of a gram of 14-karat gold reached 303.5 riyals.
- The price of a gram of 12-karat gold: settled at 260.25 riyals.
of an ounce of gold was recorded at 16,182.25 riyals, while the price of a gold pound 3,642 riyals.
Gold as a safe haven and its economic importance
Monitoring gold prices in Saudi Arabia is of particular importance given the precious metal's status as a key savings and investment vehicle (a safe haven) that citizens and residents turn to as a hedge against inflation and currency fluctuations. Historically, the Saudi market has been closely linked to global prices, with the local price per gram influenced by the movement of the ounce on the New York Mercantile Exchange (COMEX), as well as the US dollar exchange rate, due to the Saudi riyal's peg to the dollar.
Factors affecting the gold market
The gold market is influenced by several economic and geopolitical factors, including global central bank decisions regarding interest rates, inflation rates, and the state of global political stability. The relationship between gold and the dollar is generally inverse; as the dollar strengthens, gold prices tend to fall, and vice versa. In the local market, a "manufacturing fee" is added to the advertised price per gram, and this fee varies from one shop to another and from one brand to another, resulting in a final price for the consumer that is slightly higher than the price of raw gold on the stock exchange.
Experts always advise diversifying the investment portfolio, as it is preferable to buy bullion (24 carat) for long-term savings purposes due to its low manufacturing costs, while the public prefers 21 carat for jewelry and decorations due to its durability and its ability to retain its high value upon resale.
