How we calculate gold and silver prices
We take the dollar price of an ounce, divide it by the grams in an ounce, multiply by the local exchange rate, then by the karat as a share of 24. That is how the Gulf market prices gold, which is why our numbers line up with the careful rate sites.
The formula, with a worked example in live numbers
24K price per gram = ounce price in USD ÷ 31.1034768 × exchange rate. Any other karat = the 24K price × karat ÷ 24.
Right now: 4,115.90 ÷ 31.1034768 = 132.329 USD per gram. × 3.64 = 481.68 QAR for 24K. × 22 ÷ 24 = 441.54 QAR for 22K.
| Karat | Share of 24 | Hallmark |
|---|---|---|
| 24K | 100% | 999 |
| 22K | 91.67% | 916 |
| 21K | 87.5% | 875 |
| 18K | 75% | 750 |
Why the share and not the hallmark? Gulf dealers and rate sites treat 24K as pure and price the other karats as a fraction of it. For 21K and 18K both methods give the same number; for 22K, using the stamp (916 instead of 91.67%) would put us about 0.32 QAR per gram below the published rates. A 999.9 bar is one ten-thousandth short of pure gold; the difference barely shows.
Sources
- Spot ounce price of gold and silver in US dollars: gold-api.com, requested every 10 minutes. An open page checks for the new price every minute without reloading.
- 3.64 Qatari riyals, 3.6725 dirhams and 3.75 Saudi riyals per dollar are fixed official pegs. Source for the riyal peg: Qatar Central Bank's Financial Stability Review as reported by Gulf Times.
- The Kuwaiti dinar follows a currency basket, so we read it from the Central Bank of Kuwait exchange rate table several times a day. On 14 October 2026 an aggregator site was about 1% away from the central bank's rate, so we only fall back to aggregators when the bank's page cannot be reached.
- Home currencies on the Qatar page (Indian and Pakistani rupees and others): ExchangeRate-API, once a day.
When we do not trust a number
If the ounce price jumps more than 4% within two hours, we treat it as a source error and keep the last good price. If the international price has not changed for more than 30 minutes (the daily trading break or the weekend), the page says so above the prices and shows when the last price came in, instead of pretending it is live.
What these prices are not
They are the value of the gold metal. They exclude making charges, the shop margin and any fees, and a shop buying from you will usually pay less. Use them to compare and estimate; they are not an offer.
History
We have recorded every update since 14 October 2026 and treat the last price of the day in Gulf time as the daily close. The closes are free to download: qa-daily.csv.