Saudi Arabia has one of the Gulf's largest gold markets, with strong demand for 21K and 24K jewelry alongside investment bullion. Gold souks in Jeddah, Riyadh, and Dammam sell hallmarked pieces certified for karat purity.

The Saudi riyal is pegged to the US dollar at 3.75, so local gold prices track the global ounce without currency swings. A 15% VAT applies to jewelry, while high-purity investment gold (999) is VAT-exempt — making bullion a preferred store of value.