There are four main ways to invest in gold in Saudi Arabia: gold bars (physical gold at 0% VAT), jewellery (you can wear it, but the making charge and VAT don't come back), a gold fund such as the Albilad Gold ETF, code 9405 (you buy it like a share), and a mining share such as Ma'aden (a stake in a company, not gold). Today 24K gold is 467.27 SAR per gram. The real differences are the cost, and whether you own physical gold at all. This is general information, not investment advice.
How can I invest in gold in Saudi Arabia? Four ways and what each costs
Last reviewed: · How we write and review (Arabic)
Last updated: Source: metals.dev in Saudi riyals, dollars at the 3.75 peg · World benchmark: LBMA price · How we get our prices
The four routes compared
| Route | Do you own physical gold? | Main cost | Regular income? | Do you store it? |
|---|---|---|---|---|
| Gold bar | Yes | Dealer premium and resale margin | No | Yes |
| Jewellery | Yes | Making charge + 15% VAT | No | Yes |
| Gold fund | No, you own units | Annual fees + broker commission | No | No |
| Mining share | No, you own part of a company | Broker commission | Up to the company | No |
1. Gold bars
A bar is the closest you get to the gold price itself. Saudi VAT rules treat metal of at least 99% purity that trades on the global bullion market as investment metal, which is zero-rated.
The easily missed cost is the premium. On 1 November 2026 a 10 g bar at Faris was SAR 5,195, or SAR 519.50 per gram. Premiums vary a lot by weight and store, so see how to buy a gold bar safely.
2. Jewellery
Jewellery gives you something to wear, but it's the most expensive route if your goal is investment. Investopedia notes that its price usually far exceeds the melt value because of workmanship and retail markup.
At today's price, 10 g of 21K with a making charge of SAR 30 per gram costs about 5,046.89 SAR. A shop would buy it back for roughly 4,038.60 SAR (our estimate).
3. A gold fund
You buy units in a fund that owns the gold, so you never collect or store it. The Albilad Gold ETF trades on the Saudi Exchange under code 9405 and says it is backed by physical bars. Its terms list a 0.75% annual management fee, plus other expenses capped at 0.5%. There are also open-ended public funds, such as the Yaqeen Gold Fund.
More in how to invest in gold without holding it.
4. A mining share
A share isn't gold. Investopedia points out that owning gold stocks doesn't entitle you to the metal, and that miners don't always move with bullion, because each company has its own costs and performance. The best-known Saudi example is Ma'aden, code 1211, which is classed as diversified mining rather than gold alone.
What about gold coins and sovereigns?
Sovereigns are a familiar fifth option locally: Sheikh Ibn Baz was asked about trading Saudi gold sovereigns and bars. We found no reliable Saudi source for their weight and karat, so we give no figures here. The VAT rule is clear, though: zero-rating needs 99% purity, so ask about purity and VAT before buying.
How to think about the choice
No route is best for everyone. These questions help you compare; they aren't a recommendation.
| Question | What it changes |
|---|---|
| Do you want gold in your hand? | Only bars and jewellery do that |
| Do you want to wear it? | Jewellery, accepting the making charge is gone |
| Would you rather not store it? | A fund or share, accepting fees or company risk |
| Might you need to sell quickly? | Compare a shop's resale margin with broker commission |
Whichever route you choose, gold itself pays no interest or dividends, and its price falls as well as rises. Read is gold a good investment? before you decide.
Don't forget zakat
Gold held as savings is subject to zakat once it reaches the nisab and a Hijri year has passed. Today the nisab is worth 39,717.83 SAR. See how to calculate zakat on gold.
Sources
- Investopedia: Discover 4 Smart Ways To Invest in Gold (updated 21 October 2026).
- ZATCA: VAT Implementing Regulations, Article 36 (Arabic).
- Albilad Capital: Albilad Gold ETF and its terms and conditions (Arabic).
- Yaqeen Capital, via the Capital Market Authority: Yaqeen Gold Fund terms (Arabic).
- Mubasher: Ma'aden (1211) profile.
- Sheikh Abdulaziz Ibn Baz: ruling on trading gold (Arabic).
- Faris: 10 g 24K bar, price as shown on 1 November 2026.
- Resale figures are Dhahabi estimates: how we calculate prices.
Frequently asked questions
How can I invest in gold in Saudi Arabia?
Through a gold bar, jewellery, a listed gold fund or a mining share. Bars and jewellery are physical gold you must store. With a fund or a share you don't receive gold.
What is the cheapest way to invest in gold?
It depends on the amount and how long you hold it. Jewellery usually costs the most because of the making charge and VAT. Bars carry a margin when you buy and sell, and a fund charges fees every year.
Does a gold fund mean I own gold?
No. You own units in a fund that owns gold. You only receive gold through in-kind redemption, on the fund's terms, where it offers that.
Is Ma'aden stock an investment in gold?
Only partly. It is a mining company, and its share price depends on the business as well as the gold price.