JEDDAH: The gold market in Jeddah has entered a period of relative stability following weeks of heightened seasonal demand, with traders reporting a shift in buying patterns as consumers become more price-conscious.
“Demand remains strong during Hajj, especially from pilgrims purchasing gifts and small jewelry pieces, but we also see more selective buying compared to earlier peaks,” Mohammed Salem, a Jeddah-based gold trader, told Arab News. “Customers are comparing prices more carefully and asking more about making charges and purity.”
Gold prices in Saudi Arabia continue to reflect international market trends, but local seasonal cycles remain a key factor shaping retail demand.
Traders note that elevated price levels have added to the overall cost of purchases during the ongoing pilgrimage period, with 21-carat gold trading in the range of SR480–496 per gram ($128–$132) and 22-carat gold between SR520–547 per gram ($139–$146).
Although global gold prices have remained elevated in 2026, reaching around SR530–550 per gram for 21-carat gold, which remains the most commonly preferred category among customers, consumer activity has not declined.
