Gold Rate in Dammam Today

Dammam Gold Souq (Al Khobar–Dammam) — Dammam, with neighbouring Al Khobar, is the gold market of Saudi Arabia's Eastern Province — the oil-industry region with a large, well-paid expat population. The Dammam gold souq and the jewellers of Al Khobar's shopping districts serve Saudi families and the big Indian, Pakistani and Filipino communities, so the mix leans a little more toward 22K than in Riyadh, while 21K remains the Saudi standard. The city trades at the national Saudi rate.

Dammam's jewellers quote the national rate plus making charges plus 15% VAT on jewellery — compare the making charge per gram between the souq and the mall shops in Al Khobar, where prices can differ noticeably for the same design. The Eastern Province's large expat community means 22K South Asian designs are widely stocked. For investment, 24K bars are available from the larger jewellers and bullion dealers.

21K is the Saudi standard in Dammam, but 22K is unusually well stocked here because of the large South Asian community; 24K bars and coins are bought for investment.