Gold Prices Around the World
Gold prices around the world all start from one benchmark: the international spot price in US dollars. What changes between countries is the currency, the local tax and the jeweller’s making charge. This guide explains how gold is priced in Saudi Arabia, Indonesia, Iran and the Gulf, each linked to its official source.
Gold prices around the world all start from one benchmark: the international spot price in US dollars. What changes between countries is the currency, the local tax and the jeweller’s making charge. This guide explains how gold is priced in Saudi Arabia, Indonesia, Iran and the Gulf, each linked to its official source.
Last updated 2026-11-11 19:24
One benchmark, many local prices
There is really only one gold price in the world: the international spot price, quoted in US dollars per troy ounce and set continuously on global markets, with the LBMA Gold Price the recognised daily benchmark. Every national figure you see — the gold price around the world — is that single number converted into the local currency, then adjusted for local tax and a shop’s making charge. That is why the honest way to read any country’s price is: global benchmark, plus currency, plus tax, plus craftsmanship.
Why currency matters as much as the metal
In the Arab Gulf, currencies are pegged to the US dollar (the UAE dirham at 3.6725, the Saudi riyal at 3.75, the Qatari riyal at 3.64), so local prices move almost purely with the metal. Where currencies float — the Indonesian rupiah, the Iranian rial — the exchange rate can move the local price as much as the metal does, which is why those markets feel more volatile even on calm days for gold itself.
Where tax creates the real gap
Tax, not the metal, is where countries genuinely diverge. UAE VAT is 5%, Saudi Arabia 15%, Bahrain 10%, Oman 5%, while Qatar and Kuwait levy none at present. Almost everywhere, investment-grade gold of 99.5% purity or higher is zero-rated, so pure bars carry little tax wherever you buy. This is why cross-border buyers compare jewellery, not bars, and why Dubai’s lower VAT and tourist refund draw Gulf shoppers.
Country guides and your reference point
Use the dedicated guides for how pricing works in each market: Saudi Arabia, Indonesia, Iran, Qatar, Kuwait, Oman and Bahrain. Each links its official in-country source. For a live, standardised figure to compare against, the Dubai gold rate updates through the trading day, and our calculator converts any per-gram price into your own currency.
This page is a reference guide, not a live price feed and not financial or investment advice. Gold prices move continuously and vary by shop, karat, making charge and local tax; always confirm the current figure with the official source linked above before you buy or sell.
Frequently asked questions
Is the gold price the same around the world?
The metal price is effectively the same everywhere — one global benchmark in US dollars. What differs between countries is the currency conversion, local tax (VAT) and the jeweller’s making charge.
Which country has the cheapest gold?
For jewellery, markets with low or no VAT and competitive making charges — such as Dubai — tend to be cheapest once you are there. For investment bars, prices are close everywhere because the metal is zero-rated for VAT in most markets.
How do I compare a foreign price to Dubai?
Convert the foreign per-gram price to your currency, add local tax and making charge, then compare with the live Dubai rate plus Dubai’s 5% VAT. Our calculator does the conversion and all-in maths.
Sources & references
Every figure and rule on this page is summarised from the official publishers listed below. Each link goes to the primary source — the authority, central bank or market body that actually publishes that data — so you can confirm the current number at source rather than relying on a copy of it.