24 karat gold price today
24 karat is pure or nearly pure gold, 999 parts per thousand or better, and its gram price is the base for every other karat: a gram of 22 is 22 parts in 24 of it, a gram of 21 seven eighths, a gram of 18 three quarters. We work it out by dividing the dollar price of a troy ounce by its 31.1034768 grams, then multiplying by the country’s official exchange rate, 3.75 for the Saudi riyal and 3.6725 for the UAE dirham. 24K is rarely made into jewellery because it is soft and dents easily, so it is mostly sold as bars and coins for saving. In that case the VAT rules for investment metals decide what you pay on top of the gold, and they differ between the UAE and Saudi Arabia. The calculator gives the current value of any weight of pure gold, from a one-gram bar to a kilo, which is the figure to hold against a dealer quote.
10.00 g of 24K in Saudi Arabia
SAR 4,997
Metal value before making charges and VAT
| 1 g 24K | SAR 499.69 |
| 1 g 22K | SAR 458.05 |
| 1 g 21K | SAR 437.23 |
| 1 g 18K | SAR 374.77 |
| Ounce (31.10 g) 24K | SAR 15,542 |
Checked by Radif Partners · How we calculate · Editorial policy
From the ounce to a pure gram
Markets price gold per troy ounce, legally defined as 31.1034768 g. Dividing the dollar price by that figure gives the dollar price of a pure gram. Then only the exchange rate is needed: the Saudi Central Bank holds 3.75 riyals per dollar and the UAE central bank lists 3.6725 dirhams. We add no margin; the figure shown is the metal value alone.
Small bars cost more per gram
A one-gram bar and a kilo bar hold the same gold, but minting, assay and packaging costs do not scale with weight, so the premium per gram rises as bars get smaller. Someone saving a small sum every month pays a higher premium than someone buying one large bar. The bar calculator lets you enter the dealer premium and see its effect in riyals or dirhams.
24K and zakat
In the zakat calculator every karat is converted to pure gold before it is compared with the nisab, so a gram of 24K counts almost as it is and a gram of 21K counts as 0.875 g. Someone holding 24K bars therefore reaches the nisab with less weight than someone holding 18K jewellery.
Reading a price change
Because the riyal, the dirham, the Bahraini dinar and the Omani rial are pegged to the dollar, any change in the 24K gram price in those currencies is a change in the ounce itself, by the same percentage. You can follow the ounce over ten years on the gold price history page, built from World Bank data.