Types of gold bullion in Saudi Arabia and gold purity standards

Types of gold bullion in Saudi Arabia and gold purity standards

Types of gold bullion in Saudi Arabia and gold purity standardsWelcome, dear visitors of the “Taqni.com” website. In this article, we will learn about the types of gold bullion in Saudi Arabia, what are the best types of gold bullion for investment, what are the benefits of buying gold bullion, and what are the disadvantages of investing in gold bullion.

Types of gold bullion in Saudi Arabia and gold purity standards

Many people seek to invest their money in commercial matters, but some people are afraid of losing, as the fear lies within them of losing what they have earned throughout their lives, so they turn directly to investments that do not lose or losses are rare, so they resort directly to buying gold bullion, where bullion is One of the best successful investments over time and long term, in addition to the features that the alloy enjoys from the high purity of gold.

In this article, we will talk about the types of gold bullion that are found in particular in the Kingdom of Saudi Arabia, and we will also discuss the full explanation of gold standards, follow us.

Types of gold bullion in Saudi Arabia

There are a large number of gold bars in the Kingdom of all weights, and the existing alloys are of three basic types: 999.5 and alloy 999.9 and alloy 0, and the weights differ from one type to another among the alloys, as each gram of gold equals about five karats. In this paragraph, we will learn about some of the weights of the alloys:

  1. Alloy weighing five kilos.
  2. A slug weighing one kilo.
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And many other weights, from one gram up to 500 grams, and these types are classified based on the purity standards of gold bullion.

Gold bullion purity standards

1. 24 . caliber

It is the purest standard in the world among all types of gold bars. In the Kingdom, it is classified as the best standard. Jewelers manufacture gold pounds, pounds, and all gold bars from it.

2. 22 . caliber

It is one of the standards that characterize gold bullion in the Kingdom, and it is classified as the second purest standard of gold. This classification is hoped to contain trace amounts of impurities. The jewelry and gold pieces made from this standard are distinguished by the number written on it, where either writes 22 or 0.9167.

3. Caliber 21

It is one of the standards found in gold bullion in Saudi Arabia, and it is classified as the third type in terms of standards after the 22 carat. The gold pieces that are made of it are distinguished by the number written on it, where it is written either 21 or 0.875.

4. 1 . caliber

This caliber is classified in the last type of standards of gold alloys, which is also the cheapest. This is due to the fact that the percentage of impurities inside it is high in comparison with the rest of the types of calibers. The 18 carat is distinguished by the numbers written on the gold pieces that are made of it, where it is written on them either 18 or 0.750.

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What are the forms of gold bullion used in Saudi Arabia and what are their uses?

The forms of gold bars vary in the Kingdom of Saudi Arabia, where there are many different forms of bullion, and gold bars and coins are widely spread, and the price varies greatly between these bars, as the price of gold is not calculated based on its value, but its workmanship is also calculated along with the work and effort that This is done by the goldsmith, as the jewelry, ornaments and adornment industry all require work and expertise, and all these wages are added to the value of gold, and the stock market greatly affects the price of a gram of gold. It has the most prominent uses:

  1. Dental treatment and fillings.
  2. Gold is of the type that does not rust, so it is used to protect copper wires.
  3. Most luxury companies use it in the manufacture of watches and some fine jewelry.
  4. Gold is one of the best materials that conduct electricity, so some prosthetic limbs are made in it.
  5. Countries use it to mint coins.
  6. Artists use it to decorate decorative and artistic works.

Disadvantages of investing in gold bullion?

We mentioned many advantages and benefits that can be obtained from investing in gold, but everything has its pros and cons, as there are obvious disadvantages in investing in gold bullion:

  1. Whoever invests his money in gold bullion must continuously monitor gold prices, because gold prices vary widely and quickly, as he must pay attention and sell when prices have risen in a beneficial and profitable way for the capital.
  2. Gold is classified as a very valuable and valuable property, so it must be protected by various means from theft.
  3. Attention should be paid when buying gold bars, as the purchase should be made from a well-known merchant or through banks in the Kingdom of Saudi Arabia.
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How to care and preserve gold bullion?

Many people who own jewelry and gold pieces like to keep it clean and its great luster and luster. Therefore, people are looking for ways to maintain the luster of gold, and in this paragraph we will present some of the most prominent of these methods:

  • If you want to maintain the shine of your gold pieces, you must add some dishwashing liquid to the water and put the gold piece inside that mixture to ensure that the dirt is removed from it. Soft cloth.
  • Keep your gold pieces and jewelry in special boxes to avoid the pieces being scratched or injured as a result of contact with other accessories, as all these wounds can lead to a decrease in the value of the gold

In conclusion, we have presented the most important types of gold bullion in Saudi Arabia, along with some details about the standards and comparison among them in quality, with some weights available in the Kingdom. We hope that the article will satisfy you.

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