How Much Are the Gold Reserves in Saudi Arabia?

The Kingdom of Saudi Arabia's gold reserves are estimated at around 323.07 t by the end of the first quarter of 2024, while the total value of mineral reserves is estimated at approximately SAR9.375 trillion (about USD2.5 trillion). The number of factories producing gold and silver bars in the Kingdom is around six, with investments exceeding SAR7 billion.

Gold is used in the production of jewelry and ornaments, in minting coins as a backing for paper currencies, as well as in precision electronic and electrical industries, medical devices, and communication and transportation equipment, such as aircraft engines and spacecraft.

The Ministry of Industry and Mineral Resources has issued 477 exploration licenses for gold ore, and the number of licenses issued for the gold sector is approximately fifteen, with some already in production and others under development.