How silver is priced in Saudi Arabia
In Saudi Arabia silver is priced in riyals per gram for jewellery and per kilo or per bar for bullion. With the riyal pegged at 3.75 to the US dollar, Saudi silver prices move almost one-for-one with the international price. The figures here are spot converted to riyals, before VAT, dealer premiums and making charges.
VAT on silver
Silver jewellery, silverware and other silver goods carry the standard 15% VAT (the rate since 1 July 2020), charged on the full price. Investment metals — gold, silver and platinum with a purity of 99% or more — are zero-rated. This covers the first sale by a producer or refiner and later sales where the purity is maintained, so 999 silver bars and bullion coins bought from a dealer are normally zero-rated. Sterling (925) and other lower-purity items are taxed at 15%. Ask for a tax invoice showing the purity and the VAT treatment.
Rules for selling precious metals
Under Saudi Arabia's Law of Precious Metals and Gemstones, products must be stamped with one of the legal fineness standards set by the Ministry of Commerce. Updated regulations in force since 11 October 2025 require advertisements for precious-metal products to state the type, weight, fineness and price of each item, require an industrial licence for manufacturing, and require a special invoice recording the seller's name, ID number and nationality when a shop buys from an individual — relevant if you sell silver back.
Buying tips
For investment, 999 bars and bullion coins from recognised refiners keep premiums low and qualify for zero-rating. Jewellery carries making charges and 15% VAT on top of the metal, so its resale value is usually far below what you paid. Compare the dealer's per-gram or per-kilo price with the live figure on this page — the difference is the dealer's premium — and ask for the buy-back price before you buy.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.