Selling Gold in Saudi Arabia
In Saudi Arabia gold is bought and sold by licensed precious-metals shops, which must keep records of what they buy. For cash sales of SAR 50,000 or more, the shop must check your national ID, iqama or passport; below that it must still issue an invoice and record buyer and seller details. You are paid for the gold content at the shop's buying price, and making charges aren't refunded.
Facts checked 26 October 2026
Rules when you sell
- ID for cash of SAR 50,000 or more, in one transaction or several linked ones: citizens show a national ID, residents an iqama, visitors a passport. The Ministry of Commerce says the shop must verify that the ID is valid, and display a notice about the rules.
- Invoices and records are required below that too, under the Precious Metals and Gemstones Law; the Ministry changed record-retention periods in 2025.
- Hallmarks: gold offered for sale must be hallmarked to its purity, and misdescribing type, weight or purity can bring up to two years in prison or a SAR 400,000 fine. Inspectors test doubtful items at SASO laboratories.
- Tax: Saudi nationals pay no personal income tax on selling personal gold: see tax on selling gold in Saudi Arabia.
Before you sell
- Check today's price per gram for your karat and the gold value with the gold sell-back calculator.
- Ask for the weight and purity test in front of you and the buying rate in writing.
- Compare offers from two or three licensed shops, and keep the invoice.
Selling Gold in Saudi Arabia: FAQ
What ID do I need to sell gold in Saudi Arabia?
For cash transactions of SAR 50,000 or more, a valid national ID (citizens), iqama (residents) or passport (visitors), which the shop must verify. Shops issue an invoice and record details on smaller sales too.
Will I get the posted gold price when selling?
Not usually. Shops pay their own buying price for the gold content, and making charges aren't refunded; compare offers from two or three shops.
Sources (4)
General information, checked October 2026. Rules, limits and terms change; check with the provider, insurer or authority before you rely on them. Not financial, legal or tax advice.