Gold Price Karat

Where to find good quality gold with reasonable price in Jeddah?

I’ve heard Saudi Arabia have high quality gold jewelry.
I want to buy gold jewelry for gift. Where is gold souk in Jeddah that have high quality gold with cheap or reasonable price? How much the market price for 24 karat gold in Jeddah nowadays?
Shukran…
I stay at a compound on Madinah Road. But my office is near Al-Mahmal building in Al-Balad.
It’s highly appreciated if you can name a shop or gold souk close to Al-Mahmal.

Ok here is the 411 on gold shopping in Saudi. No price is set, except in the big shopping malls. You need to go to the area that has the most gold shops in one area. Go into a couple of shops, take a look around and ask what the going rate per ounce is. Last time I was shopping it was about 65 riyals per ounce. Remember, 18 k and Italian gold is going to be the most expensive. 24k is soft so if you buy a bangle or a thin banded ring it is going to be very bendable. Easily damaged. If there are any stones in the jewelry, don’t buy 24k. They fall out. Stones are never a great buy in Saudi. Quality is not great and if you resell the pieces, they don’t include them in the cost. Once you’ve gone to at least 4 shops, looked around and found what you want, NEVER take the first price they give you. Always look ready to walk out, and give them a look like, “NOT!”. Make them think you kind of like the piece, even if you really love it. Usually these shops are family owned and the owner is in the shop. He can bring the price down, his second or even third price is as low as he’ll go. The more you buy, the more willing they are to go lower. Stay away from the gold shops which also carry designer watches. They tend to be more expensive and less willing to bargain. Have fun!

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