In the world of gold, many customers follow the global price per ounce , expecting it to be the same as the price in gold shops or online stores. However, the truth is that there are fundamental and important differences between the global gold price and the local market price —especially in Saudi Arabia.
In this article, we simply explain how each price is determined, why it varies, and what it means for you as a buyer or investor.
🌍 First: What is the global price of gold?
The global price of gold is usually measured in US dollars per troy ounce (about 31.1 grams) .
This price is determined by global exchanges such as:
- New York Stock Exchange NYMEX
- London Metal Exchange (LBMA)
- It is affected by:
- US dollar price
- global interest rates
- economic or political crises
- Supply and demand for gold
🏠 Second: What is the local market price in Saudi Arabia?
The local market price is the price at which you actually buy or sell within the Kingdom, whether from gold shops or via an online store (such as Diwan Al-Dhahab ).
This price depends on:
- Global gold price live
- Dollar exchange rate against the local currency
- wages and shipping cost
- Seller's profit margin percentage
- Local market demand
🛒 Why does this difference matter to you as a buyer?
- If you are an investor : You can follow the global price to understand the general trend. This can also be done through the Diwan Al-Dhahab screen through live pricing.
- If you are buying for a gift or to save : Follow the local price through the Diwan Al-Dhahab screen
- Trust in who you deal with
📌 Follow our daily reports on the Diwan Al-Dhahab blog to learn about the most important analyses and opportunities in the local market.
📲 Browse our online store now and see the latest reliable bullion prices .