Why Saudi Gold? Things to consider before purchase


People are fascinated by Saudi Gold. If you are planning to travel to Saudi Arabia, here are a few things to consider before buying Saudi Gold.

Saudi gold and diamond jewellery is one of the most famous and the most bought items when people are visiting Saudi Arabia and the other neighbouring countries. The Saudi Gold is so famous that most of us have seen our acquaintances flaunting the Saudi gold and diamond jewellery. But like every other thing that demands investment, gold is subject to constant questioning and screening. Hence, we have compiled a highly comprehensive post regarding the Saudi Gold and all the things you should consider before making the purchase of Saudi gold and diamond jewellery. So, here we go.

Why Saudi Gold??


  • What makes the Saudi Gold highly popular amongst the tourist fraternity?
    The foremost reason is, of course, the economic benefit. You get the gold at much lower prices as compared to the other countries. Saudi Arabia has special marketplaces for Saudi gold and diamond jewellery that are called SOUKS.

  • These souks sell the gold in bulk and at unimaginably low prices. So, you can afford that gold chain without having to take out the moolah from your banks and pockets.
    Another really important reason that makes Saudi Gold highly popular is the fact that the gold is TAX FREE in the region and you can actually save a small percentage of the tax by spending on gold. Isn't that too good to be true?? But yes, that is a fact.

  • Further, the most solid reason for the high popularity of the Saudi gold and diamond jewellery amongst the tourist is that Saudi Gold is the purest one. Actually, the merchants prefer to have high carats gold that can be used to make all kinds of ornaments and things. This means that the Saudi gold and diamond jewellery you might have seen on your friends and acquaintances is the purest one.

  • The Saudi people have high knowledge about the gold and the gold items, which means that gold is easier to buy.

  • Being one of the most bought items, the Saudi gold and diamond jewellery is exquisitely designed and is really one of the most affordable luxuries. The unique craftsmanship and regional influence on the designs and visual appeal of the ornaments, make the Saudi Gold and really worthy of universal praise and possession.

Saudi gold and diamond jewellery – Thing you should consider before making the purchase:
Though after reading the previous section, all might develop an impression that buying gold in Saudi Arabia is a child's play, there might be some things of concern that should not be ignored at all. Read the following section for more information.

  1. Purpose should be clear.

  2. Before you purchase the Saudi gold and diamond jewellery, the purpose of the purchase should be clear. If you are wishing to have some kind of jewellery only, then you can choose the 18 carats or 21 carats jewellery as well. If you are buying the gold with an investment point of view, then you should purchase the bars or biscuits that are of 24 carats and can be later on sold without any loss in the international market. If, however, you are looking forwards for an investment that comes with the aesthetic value as well, then you should buy the Saudi gold and diamond jewellery of 21 carats or above with minimal or no stones in it.

  3. Choose the location properly.

  4. Though you might think that you can find some really amazing designs in the AC malls or the high-end boutique shops; the fact that the best deals of all kinds are available in the souks is just too big to be ignored.
    Instead of wasting your money while shopping in the malls and big showrooms, you can choose the gold souks for a better bargain. Further, if you are purchasing the jewellery only for the aesthetic purpose, then you can consider the shops that are not located in the really fancy places.

  5. Bargains in Gold Purchase.

  6. Though the Saudi gold and diamond jewellery is one of those luxury items that are immune to bargains, much like the expectations of each one of us; the other costs such as premium charges, wastage and making are always open for bargaining and should be bargained upon. This is why the shopping in the Souk is the best one; it comes with a competitive bargaining.

  7. Know your Goods well in advance.

  8. Don't just wake up and land yourself into the gold souk. Read well in advance about the various standards and information about the Saudi gold and diamond jewellery and figure out all the ifs and buts. Once you have made the mental calculations and learnt the recent gold rate and taxes, only then you should set out to make the purchase. For instance, what is the use of buying a necklace if you are a male and don't have anyone of consequence to give it to?

  9. Look out for the auspicious days.

  10. By auspicious, we mean the days when the prices of gold are lower as compared to the other days. In Saudi Arabia, the gold rates are lower on Saturday and Sunday as compared to the other days. Hence, make the purchase on these days if you don't have a time crunch. This is mainly because of the reason that the gold is not traded on Saturday and Sunday in the international market.

Some other things to look out for before buying the Saudi gold and diamond jewellery are as follows:

  • Avoiding the Credit Card purchases to save on the processing charges.

  • Exchange policy in your home country

  • Making process of the jewellery (handmade or machine made)

  • Avoid buying from questionable places

  • Inform yourself about the gold purity standards and the types of gold required for making diamond and stone jewellery.

So, you are now armed with all the information that is required to purchase the Saudi gold and diamond jewellery; pick up that bag and set out to buy as an intelligent buyer.


Comments

Author: Umesh21 Nov 2018 Member Level: Diamond   Points : 2

Gold is one of the attractive items for mankind due to its everlasting luster and value in the international market.
The article has given a good insight into the gold available in Saudi Arabia and those visitors or tourists who can afford can definitely take advantage of this price arbitrage between our country and Saudi Arabia.

One should also keep in mind the quantity being allowed by our customs as one cannot bring more than the permitted limit.

Author: Sanjeev Gupta22 Nov 2018 Member Level: Gold   Points : 2

The best thing about purchasing gold from Saudi Arabia is that there is no duty on it and you have to pay 12% lesser than you pay in India. Also the gold there is considered to be the purest unlike in India where there you cannot be sure purity. One can get unique designed jewelry from the market of Dubai as there are plenty of markets for buying gold and diamond jewelry. Bottom line is that buying gold from Gulf countries is economical.

Author: Neeru Bhatt26 Nov 2018 Member Level: Gold   Points : 2

A good article on buying gold in Saudi.

Frankly speaking, gold is losing its shine now as the gold prices have become stagnant for quite some time and the future of this commodity is rather uncertain.

The idea of buying gold as a long time investment idea is a doubtful proposition now. Anyway, those who can afford and want to wear the jewelry can go for this mode.



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