Bullion Dealers Saudi Arabia

Buying Bullion In Saudi Arabia

Although not typically known for it’s bullion industry, Saudi Arabia like many countries in the Middle East looks to gold as a store of family wealth – and as such has grown a thriving network of gold bullion suppliers.

Saudi Arabia has an LBMA approved gold mint, operational since July 2010, however this only produces gold jewellery and not bullion. According to the World Gold Council (WGC) as of October 2017, the Saudi Arabian central bank holds 322.9 tons of gold, equivalent to 2.7% of its total reserves. This has been static since 2007’s official figures, when it rose from 143 tons.

Internationally recognised bullion brands such as PAMP Suisse are available but carry high premiums and so the Saudi bullion market has created it’s own local version directly copying the style of the PAMP Fortuna or Rose bars and simply replacing the PAMP letters in the logo with HTBM or SGCO.

These are the most widely traded bullion bars in KSA trading at low .5% – 1.5% premiums. At 21K Saudi gold jewellery is just as likely to be used as investments.

Choice of bullion companies in Saudi with a web presence are limited, as most dealers trade from small units within the many Gold Souks of Riyadh, Jeddah, Makkah and Madinah.
 

IMPORTANT: The above tax details are listed for information purposes only and are believed correct at time of publication. Bullion.Directory are not tax experts. All enquiries about KSA taxes should be addressed to the appropriate local body. Taxes and taxation are subject to change.