Saudi Arabia · SAR · February 2024
Gold Price in Saudi Arabia — February 2024
In February 2024, the gold price in Saudi Arabia closed at approximately ﷼7,690 per troy ounce, equivalent to ﷼2,884 per tola or ﷼247 per gram. This represents a -0.72% change on the month (﷼7,746 open → ﷼7,690 close).
Open
﷼7,746
per troy ounce
Close
﷼7,690
per troy ounce
High
﷼7,746
per troy ounce
Low
﷼7,486
per troy ounce
All unit prices at February 2024 close — Saudi Arabia
| Unit | Weight | Closing SAR price |
|---|---|---|
| Troy ounce | 31.1035 g | ﷼7,690 |
| Gram | 1.0000 g | ﷼247 |
| 10 grams | 10 g | ﷼2,472 |
| Kilogram | 1,000 g | ﷼247,249 |
| Tola | 11.664 g | ﷼2,884 |
Karat-purity breakdown at February 2024 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24K | ﷼247 | ﷼2,881 |
| 22K | ﷼226 | ﷼2,642 |
| 21KSAUDI ARABIA STD | ﷼216 | ﷼2,523 |
| 18K | ﷼185 | ﷼2,163 |
| 14K | ﷼145 | ﷼1,687 |
| 10K | ﷼103 | ﷼1,203 |
Daily gold price in SAR — February 2024
The Saudi Arabia gold market
Saudi Arabia's gold market is concentrated in Jeddah and Riyadh, with 21-karat being the regional jewellery standard rather than 22K. Retail prices are quoted per gram. The Kingdom applies a 15% VAT on jewellery making charges (not on the gold metal value itself for investment-grade bars). Saudi gold demand is strongly seasonal, peaking around weddings, Ramadan and Hajj.
Standard quote unit
gram
Common purity
21K
Currency
SAR (﷼)
Daily gold price — February 2024, Saudi Arabia
﷼7,746
$2,065.53/oz
﷼7,716
$2,057.71/oz
﷼7,659
$2,042.32/oz
﷼7,650
$2,039.92/oz
﷼7,646
$2,038.95/oz
﷼7,667
$2,044.66/oz
﷼7,645
$2,038.79/oz
﷼7,640
$2,037.25/oz
﷼7,604
$2,027.67/oz
﷼7,604
$2,027.67/oz
﷼7,618
$2,031.59/oz
﷼7,486
$1,996.16/oz
﷼7,531
$2,008.34/oz
﷼7,557
$2,015.23/oz
﷼7,587
$2,023.07/oz
﷼7,587
$2,023.07/oz
﷼7,616
$2,030.92/oz
﷼7,621
$2,032.33/oz
﷼7,631
$2,034.95/oz
﷼7,655
$2,041.41/oz
﷼7,639
$2,037.13/oz
﷼7,639
$2,037.13/oz
﷼7,648
$2,039.51/oz
﷼7,642
$2,037.95/oz
﷼7,690
$2,050.75/oz
How Saudi Arabia gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The SAR/USD exchange rate comes from exchangerate-api.com's 2024 year-end snapshot.
Conversion. Every SAR figure on this page is computed as XAU/USD price × SAR/USD rate. We use the year-end exchange rate consistently across all February 2024 prices on this page.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417).
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in Saudi Arabia, add the country-specific levies described in the “Saudi Arabiagold market” section above.
FAQ — Saudi Arabia gold price in February 2024
What was the gold price in Saudi Arabia in February 2024?
In February 2024, gold in Saudi Arabia opened at ﷼7,746/oz and closed at ﷼7,690/oz — a move of -0.72% on the month. Per tola: ≈﷼2,884; per gram: ≈﷼247; per 10g: ≈﷼2,472.
What was the 24K gold rate per tola in Saudi Arabia in February 2024?
The 24K gold rate per tola in Saudi Arabia at the February 2024 close was approximately ﷼2,884, derived from international XAU/USD spot of $2,050.75/oz times the 2024-end SAR/USD exchange rate of 3.75. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 21K gold rate per gram in Saudi Arabia in February 2024?
Saudi Arabia's most-quoted retail standard is 21K per gram. At the February 2024 close, that worked out to approximately ﷼216 (21K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
SAR prices on this page are computed from the verified international XAU/USD spot price for February 2024 (sourced from gold-api.com), multiplied by the 2024-end SAR/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The ﷼ figures here represent the international gold spot price converted to SAR at the 2024-end exchange rate. Saudi Arabia's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in Saudi Arabia? See live gold prices in Saudi Arabia with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2024 archive or the USD-only February 2024 page with the country-by-country list at the bottom.
Other markets? Compare February 2024 prices across other major gold-trading countries: Pakistan, India, United Arab Emirates, United States, United Kingdom.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to SAR at the 2024-end exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in Saudi Arabia before transacting.