Gold Price Today in Oman - Live 22K & 24K Rates (October 2025)

The current gold price in Oman stands at ر.ع.46.62 per gram for 22 karat gold and ر.ع.50.86 per gram for 24 karat gold as of October 26, 2025. Gold prices in Oman are updated hourly based on international spot prices from the London Bullion Market Association (LBMA). Whether you're buying gold jewelry at the historic Muttrah Souk in Muscat, investing in gold bars, shopping as a tourist exploring Oman's renowned markets, or an expat seeking tax-free gold, understanding today's gold rates is essential for making informed financial decisions.

This comprehensive guide provides live gold prices for Oman, explains the 0% VAT advantage on gold purchases (no tax on gold jewelry, coins, or bars), and offers insights into factors affecting gold rates today. We'll also help you understand the difference between 24K, 22K, and 18K gold prices and provide practical tips on calculating the total cost of gold jewelry including making charges at Muscat's famous Muttrah Souk and modern gold retailers.

Gold Rate Today in Top 3 Oman Cities

Gold prices in Oman are remarkably consistent across cities due to centralized pricing from Muscat's gold market. Muscat, as the capital and commercial hub, sets the benchmark for gold pricing nationwide. Here are today's gold rates in major Oman locations:

Note: Gold prices are updated hourly based on international spot rates and LBMA benchmarks. Prices shown are without VAT as Oman imposes 0% tax on gold purchases (jewelry, coins, and bars). The Omani Rial (OMR) is a strong, stable currency (1 OMR ≈ $2.60 USD), providing price predictability. For live prices with our FREE Jewelry Purchase Cost Calculator, visit our Gold Price Tool.

Understanding 24K, 22K, and 18K Gold Prices in Oman

Gold purity is measured in karats (K), with 24K being the purest form. Understanding the difference between these purity levels is crucial when buying gold jewelry at Muttrah Souk or modern Muscat malls.

24 Karat Gold (99.9% Pure)

• Current Price: ر.ع.50.86 per gram (0% VAT)
• Purity: 99.9% pure gold
• Common Uses: Gold coins, bars, and investment purposes. 24K gold is too soft for regular jewelry wear.
• Characteristics: Bright yellow color, maximum resale value, preferred by investors and banks. Popular for Maria Theresa coins, which have historical significance in Oman.

22 Karat Gold (91.6% Pure) - Most Popular in Oman

• Current Price: ر.ع.46.62 per gram (0% VAT)
• Purity: 91.6% gold + 8.4% other metals (copper, silver, zinc)
• Common Uses: Traditional Omani jewelry, wedding jewelry, ornaments, chains, bangles, and rings. The standard choice in Oman gold markets.
• Characteristics: Perfect balance of purity and durability, slightly harder than 24K, retains excellent resale value. This is the preferred choice for 80% of Omani jewelry buyers, especially for traditional designs like Hirz and Khanjar-inspired pieces.

18 Karat Gold (75% Pure)

• Current Price: ر.ع.38.15 per gram (0% VAT)
• Purity: 75% gold + 25% other metals
• Common Uses: Modern jewelry designs, diamond jewelry settings, contemporary ornaments popular in Muscat's luxury malls.
• Characteristics: More durable and scratch-resistant, allows for intricate designs, lower gold value but stronger metal composition. Increasingly popular among expats and younger Omani buyers.

Price Per 10 Grams Comparison:

• 24K Gold: ر.ع.543.77 per 10 grams
• 22K Gold: ر.ع.466.20 per 10 grams
• 18K Gold: ر.ع.381.50 per 10 grams

Gold Price Movement in Oman - Last 7 Days

Gold prices have shown slight volatility over the past week, influenced by global market conditions and the Omani Rial's stability (1 OMR ≈ $2.60 USD). Here's how 22K and 24K gold prices have moved in the last seven days:

Weekly Analysis: Gold prices have shown moderate volatility over the past week with an overall upward trend. The average 22K gold price for the week was ر.ع.46.62 per gram, showing that current prices are above the weekly average. The 24K gold price averaged ر.ع.50.86 per gram during this period.

Gold Price Forecast for Tomorrow

Based on current market indicators, tomorrow's gold prices in Oman are expected to remain stable with a possible marginal increase of 0.10-0.20%. Several factors suggest this trend:

• International Spot Price: Global gold prices showing slight upward momentum
• OMR Stability: Omani Rial remains stable and strong against USD
• Market Sentiment: Steady demand from Muttrah Souk, tourist purchases, and expat community
• LBMA Trends: London Bullion Market showing mild bullish signals

Disclaimer: Gold prices are subject to rapid changes based on global economic conditions, geopolitical events, and market volatility. This forecast is for informational purposes only and should not be considered investment advice. For real-time price updates, visit our Live Gold Price Tracker.

Why Gold Prices Change Daily in Oman

Gold prices in Oman fluctuate every day—sometimes even multiple times within the same day—due to a complex interplay of international and local factors. Understanding these variables helps you make better decisions about when to buy gold at Muttrah Souk or modern Muscat retailers.

International Factors Affecting Gold Prices

1. Global Spot Price (USD/oz)

The international gold spot price, determined by the London Bullion Market Association (LBMA) and COMEX exchanges, is the primary driver of Oman gold rates. When global gold prices rise in USD per ounce, Oman prices increase proportionally after OMR conversion. Currently, international gold is trading around $2,650-$2,700 per troy ounce (31.1 grams).

2. Omani Rial Stability

The Omani Rial is pegged to the US Dollar at a rate of 1 OMR = $2.60 USD (0.385 OMR per USD). This peg provides exceptional price stability and predictability for gold buyers. The OMR's strength makes Oman prices competitive when converted to other currencies, despite appearing high in nominal OMR terms.

3. US Federal Reserve Policies

Interest rate decisions by the US Federal Reserve affect gold prices inversely. When the Fed raises interest rates, the dollar strengthens and gold becomes less attractive, leading to lower prices. Conversely, rate cuts or dovish monetary policy typically boost gold prices globally, including in Oman.

4. Geopolitical Tensions

Gold is considered a safe-haven asset during times of geopolitical uncertainty. Regional conflicts, trade disputes, and political instability drive investors toward gold, pushing prices higher. Oman's neutral diplomatic stance and political stability make it an attractive market for gold investment during regional uncertainties.

Oman-Specific Factors Affecting Gold Prices

1. 0% VAT on Gold (Major Advantage)

Oman imposes 0% VAT on gold purchases (jewelry, coins, and bars), making it one of the most attractive gold markets in the GCC region alongside UAE, Qatar, and Kuwait. This contrasts sharply with Saudi Arabia's 15% VAT, making Oman gold purchases 12-15% more cost-effective for identical items.

2. Tourism and Muttrah Souk Appeal

Oman's thriving tourism sector brings significant gold demand. Muttrah Souk in Muscat is a major tourist attraction, with thousands of visitors purchasing gold jewelry as souvenirs and gifts. The historic souk's authentic atmosphere and traditional Omani designs create consistent tourist-driven demand, especially during peak tourism months (October-April).

3. Expat Community (45% of Population)

Oman has a substantial expat population representing 45% of its 4.6 million residents, primarily from India, Bangladesh, Pakistan, Philippines, and Egypt. This diverse community creates steady demand for gold across cultural preferences, from traditional 22K jewelry to modern 18K designs.

4. Traditional Omani Gold Craftsmanship

Oman has a rich heritage of gold craftsmanship, particularly traditional designs like Hirz (protective amulets), Khanjar-inspired jewelry, and Maria Theresa coin pieces. These unique designs command premium making charges (ر.ع.5-6/gram) but attract cultural buyers and collectors, supporting the high-end jewelry market.

5. Oil Economy and Wealth Distribution

As an oil-producing nation, Oman's economic health directly impacts gold purchasing power. Strong oil prices support higher disposable incomes and gold investment capacity among Omani nationals and resident expats.

Total Cost of Buying Gold Jewelry Today in Oman

When purchasing gold jewelry in Oman, the final price you pay includes several components beyond just the gold rate per gram. Understanding the complete cost structure, especially the 0% VAT advantage, helps you budget accurately and negotiate better with jewelers at Muttrah Souk or modern retailers.

Complete Cost Breakdown: Gold Jewelry Purchase in Oman

Let's calculate the total cost of buying a 10-gram gold bracelet (22 karat) today in Muscat:

Understanding Each Cost Component

1. Making Charges (varies: ر.ع.3-6 per gram)

Making charges compensate the jeweler for craftsmanship, labor, and artistry. Rates in Oman vary based on design complexity:

• Simple designs: ر.ع.3-4/gram (plain chains, simple bangles)
• Medium designs: ر.ع.4-5/gram (carved rings, structured bracelets)
• Traditional Omani designs: ر.ع.5-6/gram (Hirz, Khanjar-inspired jewelry, elaborate necklaces with filigree work)

2. Wastage (typically 4-6%)

Wastage accounts for gold lost during the manufacturing process (melting, casting, polishing). In Oman, wastage rates are moderate (4-6%), reflecting skilled local craftsmanship. Traditional Omani designs may have slightly higher wastage (up to 7%) due to intricate techniques. Some jewelers include wastage in making charges; always clarify before purchase.

3. VAT (Value Added Tax) - 0% on Gold ✓✓

Oman's Biggest Advantage: 0% VAT on ALL gold purchases!

• 0% VAT: No tax on gold jewelry, coins, or bars
• Tax Exemption: Gold is exempt from Oman's standard tax regime
• Cost Savings: Eliminates 12-15% cost premium compared to Saudi Arabia
• Transparent Pricing: What you see is what you pay - no hidden tax additions
• Tourist Benefit: Same 0% rate applies to tourists and residents alike

Oman vs UAE vs Saudi Arabia vs India: Cost Comparison

Key Insight: Oman and UAE offer nearly identical total costs due to both having 0% VAT on gold. When converted to common currency, Oman and Dubai prices differ by less than 1%. However, Oman offers excellent value compared to Saudi Arabia (5-10% cheaper) and India (significantly cheaper). The 0% VAT advantage makes Oman one of the GCC's most attractive gold markets, especially for tourists seeking authentic traditional designs.

Want to calculate the exact cost for your jewelry purchase? Use our FREE Jewelry Purchase Cost Calculator with live gold prices, customizable making charges, wastage percentages, and automatic 0% VAT calculation!

Muttrah Souk (Muscat Gold Souk): Complete Shopping Guide

Muttrah Souk stands as Oman's most famous traditional market and premier gold shopping destination, offering over 200 years of history combined with competitive pricing and authentic Omani craftsmanship.

Muttrah Souk Details

• Location: Muttrah Corniche, Muscat (historic port area, 10 minutes from Muscat city center)
• Timings: Saturday-Thursday: 9 AM - 1 PM, 4 PM - 10 PM | Friday: 4 PM - 10 PM
• Specialty: Traditional Omani gold jewelry (Hirz, Khanjar designs, Maria Theresa coins), 22K wedding jewelry, investment bars
• Atmosphere: Historic covered souk with wooden architecture, labyrinthine alleys, air-conditioned sections, authentic Omani heritage experience
• Number of Shops: 30+ dedicated gold retailers plus silversmiths and traditional craftsmen
• Tourist Appeal: One of Oman's top tourist attractions, combining shopping with cultural immersion

Modern Gold Retailers in Muscat

• Muscat City Centre: International brands, contemporary designs, family shopping environment
• Oman Avenues Mall: Premium retailers, luxury segment, modern jewelry collections
• Muscat Grand Mall: Mix of traditional and modern, competitive pricing
• Al Araimi Boulevard: Upscale shopping, designer jewelry, 18K specialization

Shopping Tips for Oman Gold Markets

1. Verify Hallmark and Authenticity

Look for 916 (22K) or 999 (24K) stamps. Oman follows international hallmarking standards. Reputable Muttrah Souk sellers always display purity stamps and provide certificates. For traditional designs, ensure authentic craftsmanship.

2. Negotiate Making Charges

Base gold rate is fixed (tied to international prices), but making charges are highly negotiable at Muttrah Souk. Start negotiations at 30-40% below quoted price. Aim for ر.ع.3-4/gram for simple designs. Tourist-friendly sellers may offer better deals during off-peak hours.

3. Leverage 0% VAT Advantage

Oman's 0% VAT on gold means transparent pricing - no hidden tax surprises. This is a significant advantage for tourists compared to many home countries. Factor this when comparing prices internationally.

4. Compare Multiple Shops

Get quotes from 3-4 retailers before deciding. Muttrah Souk's compact gold section makes comparison shopping efficient. Prices can vary by ر.ع.1-2/gram in making charges between vendors.

5. Request Itemized Invoice

Ensure receipt shows gold weight, purity (karat), making charges, and wastage separately. This is crucial for tourists needing customs documentation and for insurance purposes.

6. Best Time to Visit

Weekday mornings (9-11 AM) are less crowded at Muttrah Souk, better for negotiations. Evening hours (5-8 PM) offer pleasant weather and vibrant atmosphere. Avoid Friday afternoons when shops are closed.

7. Payment Methods

Cash (OMR) may offer best negotiation leverage. Credit cards widely accepted; check for 2-3% surcharges. Some shops accept USD or AED directly at competitive exchange rates.

8. Traditional Designs and Their Significance

Learn about traditional Omani jewelry before visiting: Hirz (triangular protective amulets), Khanjar (dagger-inspired pendants symbolizing Omani heritage), Maria Theresa coins (historic silver coins now in gold). These carry cultural value beyond metal worth.

Tourist Gold Buying Guide in Oman

Oman is renowned as one of the Middle East's most welcoming destinations for tourists, and Muttrah Souk is a must-visit for gold shopping. Here's what tourists need to know:

Best Practices for Tourist Gold Buyers

1. No Restrictions on Tourist Purchases

Oman welcomes tourist gold purchases with no quantity limits or special permits required. The 0% VAT policy applies equally to tourists and residents, making Oman an attractive gold shopping destination.

2. Customs Declaration Requirements

When leaving Oman:

• Keep all receipts: Purchase invoices from Muttrah Souk or malls
• Declare at airport: If carrying over 1kg of gold, declare to Omani customs
• Check home country limits: Research your destination country's gold import regulations before purchasing

3. Common Home Country Limits

• India: Males: 20g duty-free; Females: 40g duty-free (after 1-year abroad); Additional: 20% duty + 3% GST
• UK/EU: Generally no limits but must declare values over €10,000
• USA: No limit but must declare if value exceeds $10,000
• Australia: No limit but must declare cash/gold over AUD $10,000
• Philippines: Up to $10,000 value duty-free

4. Authenticity for Tourists

Stick to established Muttrah Souk shops with visible storefronts and proper certification. Avoid street vendors. Reputable shops provide:

• Detailed invoice with shop stamp
• Hallmark certification
• Weight certificate from certified scales
• Business card for future reference

5. Traditional Omani Designs as Souvenirs

Consider purchasing small traditional pieces as culturally significant souvenirs: Mini Hirz pendants (5-10g), Khanjar brooches (8-15g), or Maria Theresa coin pendants (10-12g). These range from ر.ع.250-750 and make unique, valuable keepsakes.

6. Currency Exchange

Omani Rial (OMR) is relatively strong (1 OMR ≈ $2.60). Exchange currency at banks or authorized exchangers for best rates before visiting Muttrah Souk. Some shops accept USD, EUR, or GBP directly.

Expat Gold Buying Guide in Oman

For Oman's expat community (45% of population), gold serves as jewelry, investment, and remittance to home countries.

Best Practices for Expat Gold Buyers

1. Investment vs Jewelry Strategy

For maximum value when returning home: 60% investment gold (24K bars/coins with minimal making charges) + 40% jewelry (22K). Investment gold has universal acceptance and easier liquidity.

2. Residency and Work Permit Considerations

Ensure your Omani residence visa is valid when making large gold purchases. Some shops may request ID for purchases exceeding ر.ع.2,000 (anti-money laundering compliance).

3. Savings Compared to Home Countries

• vs India: Save 12-18% (India has 3% GST + higher making charges)
• vs Pakistan: Save 8-12% (sales tax and higher premiums)
• vs Bangladesh: Save 10-15% (import duties and limited selection)
• vs Philippines: Save 10-14% (higher retail markups)
• vs Egypt: Save 15-20% (14% VAT on gold)

4. Zakat Calculation for Muslim Expats

• Obligation: 2.5% annually on gold exceeding Nisab (85 grams)
• Calculation: Based on current market value, not purchase price
• Jewelry Exemption: Many scholars exempt regularly worn jewelry; consult local imams
• Investment Gold: Zakat mandatory on coins/bars held for one lunar year

Conclusion: Making Smart Gold Purchase Decisions in Oman

Understanding today's gold prices in Oman requires more than just checking the rate per gram. With 22 karat gold at ر.ع.46.62 and 24 karat at ر.ع.50.86 per gram (with 0% VAT), now represents a moderately elevated buying opportunity as prices show upward momentum. Strategic buyers should consider waiting for dips below ر.ع.48/gram for better value.

Whether you're exploring historic Muttrah Souk for authentic Omani jewelry, shopping as a tourist seeking unique traditional designs, part of Oman's 45% expat community purchasing for home country gifts, or investing for portfolio diversification, being informed about price trends, the 0% VAT advantage, and the complete cost structure empowers you to make better decisions. Remember to factor in making charges (ر.ع.3-6/gram, higher for traditional Omani designs) and wastage (4-6%) when calculating your jewelry purchase budget.

Key Takeaways:

• Gold prices updated hourly based on international LBMA benchmarks and OMR-USD peg (1 OMR ≈ $2.60)
• 0% VAT on gold - Oman's biggest advantage over Saudi Arabia (15% VAT) and many home countries
• Muscat sets competitive prices; city variations minimal (ر.ع.0.05-0.10/gram)
• 22K gold preferred for traditional Omani jewelry; 24K for investment and Maria Theresa coins
• Total jewelry cost = Base price + Making charges + Wastage (NO VAT!)
• Muttrah Souk offers best prices through negotiation + cultural experience
• Tourist-friendly market with no purchase restrictions
• Traditional designs (Hirz, Khanjar) carry cultural significance beyond metal value
• Eid festivals, National Day, and Muscat Festival offer best discounts
• Expats and tourists: Check home country customs limits before large purchases

For live gold price updates with hourly refresh, historical price charts, city-wise comparison, and our FREE Jewelry Purchase Cost Calculator with 0% VAT calculation, visit MarketsHost Gold Price Tool. Track prices across Oman cities, calculate exact jewelry costs with custom making charges, and stay informed about market trends to time your gold purchases perfectly at Muttrah Souk or modern Muscat retailers.

Last Updated: October 26, 2025, 8:00 AM GST | Next Update: Hourly
Data Source: LBMA International Spot Prices, Hourly API Integration

Disclaimer: Gold prices mentioned in this article are indicative and subject to change based on market conditions. The information provided is for educational purposes only and should not be considered as financial or investment advice. Please verify current rates with Muttrah Souk retailers or Muscat gold merchants or visit our live gold price tool before making purchase decisions. MarketsHost is not responsible for any financial decisions made based on this content. Tax rates subject to Oman government regulations.