How we calculate, and our sources

The 24K gram price

24K gram = dollar ounce price ÷ 31.1034768 × exchange rate. The troy ounce weight is from the UK Weights and Measures Act 1985. The exchange rate is the official peg in Saudi Arabia (3.75), the UAE (3.6725), Bahrain (0.376) and Oman (one rial = USD 2.6008). For Kuwait and Qatar we take today’s rate from ExchangeRate-API, with a fallback from the UAE central bank table: 0.3079 dinars and 3.645 Qatari riyals per dollar.

Other karats

Gram of karat k = 24K gram × k ÷ 24. That is how Saudi price boards work, and it is the pure metal value of each karat. In the UAE, shop boards may add a fixed margin per gram; we do not try to mimic it, we show the metal value and let visitors type the board price into the calculator.

The price of a piece

Gold value = weight × karat gram price. Making = weight × making per gram, or gold value × percentage. VAT = (gold value + making) × the country’s rate: 15% in Saudi Arabia under Article 2 of the Law, 5% in the UAE under Article 3 of the Decree-Law, 10% in Bahrain, 5% in Oman, zero in Kuwait and Qatar. For bars: zero in the UAE on every supply (Article 36), zero on the first supply only in Saudi Arabia (Article 36) and Oman, and the standard rate in Bahrain because we did not find the rule.

Zakat, resale and the tourist refund

Zakat: pure gold = sum of (weight × karat ÷ 24); the nisab is twenty mithqal, shown as 85 g and editable; zakat is 2.5% of the value once the nisab is reached, per the fatwa of Ibn Baz. Resale: gold value minus the shop deduction the visitor enters. Tourist refund: VAT contained = price × rate ÷ (1 + rate), less 13% of it and AED 4.8 per claim, with an AED 250 minimum, per the FTA decision.

Tests

Every calculation function is tested automatically: pegs against the published figures, the 21K to 24K ratio against two prices published on the same day, and VAT, zakat and refund examples worked out by hand and compared with the result. The site build fails if any test fails.

Limits

We do not know a given shop’s margin or making charge; those are inputs the visitor types. We do not compute customs duty or import VAT. Kuwait and Qatar have no VAT according to our review, which may change. The ounce price comes from one source and may differ slightly from others at the same moment. Figures are estimates for guidance and do not replace the seller’s invoice.