This guide explains how the gold price in Israel is calculated, which karat to buy, and where to buy gold in Ramat Gan and Tel Aviv. First: there is no separate Israeli gold price. Gold trades at one global price per troy ounce, converted into shekels at the live USD/ILS rate for Israel. When the price moves, it is because the global spot price moved, the shekel moved against the dollar, or both.
How the gold price in Israel is calculated
The calculation has two parts. First, the global spot price: gold is traded worldwide at one price per troy ounce in US dollars. One troy ounce is 31.1034768 grams — not an ordinary ounce. Divide it by 31.1034768 for the price of one gram of pure (24K) gold in dollars.
Second, the exchange rate: that dollar price per gram is converted into Israeli new shekels at the live USD/ILS rate, giving the gold price per gram in Israel — and the karat fraction gives the price for lower karats: 14K gold is 14/24 pure, so its price per gram is 14/24 of the 24K price, and 18K gold is 18/24 of the 24K price.
That is how the Gold Price in Israel page on ToolZana works: it converts the live USD spot gold price from AlyawmGold at the live ILS exchange rate, and shows the price per gram, per troy ounce and per kilogram in ILS. The prices are the raw spot rate before dealer commission, making charges and tax.
The shekel and the units gold is quoted in
Because the Israel price is a conversion, the exchange rate matters as much as the gold market: if the shekel weakens against the dollar, the gold price in Israel rises in shekels even when the global gold price is flat, and if the shekel strengthens, the price falls. The shekel floats freely, so never rely on a remembered exchange rate — always check the live rate on the day you buy or sell.
In Israel, gold is quoted per gram in ILS (shekels); the international spot price is quoted per troy ounce (31.1034768 grams). The tola (11.6638 grams) is not used by Israeli shops — it is common in South Asia and the Gulf, so use the Gold Price per Gram, Tola and Ounce Converter to compare quotes in different units: a per-tola price and a per-gram price cannot be compared directly.
Karats in Israel: 14K for jewellery, 18K for fine jewellery, 24K for investment
In Israel, 14K gold is the everyday jewellery standard. 14K means 58.3% pure gold — stamped 585 — alloyed with other metals to make it hard enough for daily wear. Most rings, chains and earrings sold in Israeli shops are 14K, including most wedding bands and engagement rings, because it is durable and more affordable than higher karats.
For fine and luxury jewellery, the grade is 18K: 75% pure gold, stamped 750, with a deeper yellow colour than 14K. It costs more per gram because it contains more gold, and it is softer, so it is more often used for necklaces and earrings than for rings worn every day. For investment, the grade is 24K — 99.9% pure gold, stamped 999 — sold as bars and coins rather than jewellery, because pure gold is too soft for everyday wear.
Use the Gold Weight and Purity Calculator to check how much pure gold is in a piece: enter the weight and karat and it gives the pure-gold weight. As a hypothetical example, a 10-gram piece of 14K gold holds 5.833 grams of pure gold, and a 10-gram piece of 18K gold holds 7.5 grams. Jewellers and scrap buyers work on the pure-gold content, not the total weight — stones, clasps and springs add weight without adding gold.
Tax on gold in Israel
Israel’s standard VAT rate is 18%, raised from 17% on 1 January 2025, and it applies to gold jewellery: the price of a piece of jewellery in an Israeli shop includes 18% VAT on top of the metal value and making charges. Always ask whether a quoted price includes VAT, so you are comparing like with like.
Investment gold is different from jewellery, but not in the way it is in Europe. Israel does not give investment gold the blanket VAT exemption that applies in the EU: Israel treats gold as a commodity rather than a financial asset, and gold and silver brought into the country attract the prevailing VAT at customs. That is one reason the physical investment-gold market in Israel is small, and most Israelis who invest in gold do so through foreign exchange-traded funds rather than physical bars. A few specialist arrangements — for example vault storage through a dedicated dealer — are marketed as tax-free, so if you buy bars or coins as an investment, ask the dealer in writing exactly how the VAT is treated before you pay.
Tourists should note that the VAT exemption for tourists was withdrawn from 1 January 2025, so there is no tourist VAT refund on gold jewellery bought in Israel.
Where to buy gold in Israel
Israel has no traditional gold souq. Gold buying is concentrated in two places: the Israel Diamond Exchange complex in Ramat Gan, the country’s wholesale diamond and jewellery hub, and the designer jewellery streets of Tel Aviv. Many Exchange shops are trade-oriented and work by appointment, and most jewellery shops close early on Fridays and stay closed on Saturdays for Shabbat.
Israel Diamond Exchange, Ramat Gan — Jabotinsky Street
The Israel Diamond Exchange complex, on Jabotinsky Street in Ramat Gan just outside Tel Aviv, is the heart of Israel’s diamond and fine jewellery trade — a cluster of towers (including the Maccabi Building at Jabotinsky Street 1 and the Diamond Tower on Tuval Street) housing hundreds of diamond dealers, manufacturers and jewellers.
Named shops in the complex include Goldiam (Jabotinsky Street 1, Diamond Exchange Building, Ramat Gan), Royal Blue (Jabotinsky Street 1, Ramat Gan) and Israel Diamonds (Maccabi Building, Jabotinsky Street 1, Suite 1553, Ramat Gan), all specialising in diamond jewellery and custom engagement rings, and Rozenbaum Jewelry (Maccabi Building, Zisman Shalom Street 3, Ramat Gan), a family jewellery manufacturer in the trade since 1974. Hours are typically Sunday to Thursday, about 10:00 AM to 6:30 PM, with early closing on Fridays. View the Israel Diamond Exchange on Google Maps.
Tuval Street and HaRakon Street, Ramat Gan — the Diamond Tower area
Just behind Jabotinsky Street, Tuval Street and HaRakon Street hold more of the Exchange’s jewellers and workshops, including the Diamond Tower at Tuval Street 21. Named shops here include Kurt Diamonds (HaRakon Street 15, Diamond Exchange complex, Ramat Gan), a family diamond jewellery firm with more than fifty years in the trade, and Big Shop Diamonds (Tuval Street 21, Diamond Tower, Ramat Gan). This is a working trade district rather than a shopping street, so expect showrooms and offices rather than window displays, and book an appointment where the shop asks for one. View Tuval Street on Google Maps.
Kikar HaMedina, Tel Aviv — designer jewellery
Kikar HaMedina (State Square) in Tel Aviv, around Hei be-Iyar Street, is the city’s designer jewellery quarter, home to independent goldsmiths and fine-jewellery studios. Named jewellers include YAMA Jewelry (Hei be-Iyar Street 44, Tel Aviv), known for geometric gold pieces, and Ifat Oved (Hei be-Iyar Street 70, Tel Aviv), a fine-jewellery studio working in diamonds and gemstones. Hours are typically Sunday to Thursday, about 10:00 AM to 7:00 PM, with early closing on Fridays. View Kikar HaMedina on Google Maps.
Dizengoff Street and Ibn Gabirol Street, Tel Aviv — high-street jewellers
Tel Aviv’s main shopping streets also have long-established jewellers. On Ibn Gabirol Street, Hod VeHadar (Shlomo Ibn Gabirol Street 105, Tel Aviv) has traded since 1992, selling Italian and locally made jewellery as well as antique pieces, and offering repairs and gold buying. On Dizengoff Street, independent goldsmiths such as Aloni Jewelry (Dizengoff Street 190, Tel Aviv) make and sell handmade gold jewellery. View Dizengoff Street on Google Maps.
Israel’s big jewellery names are a useful benchmark: Padani, one of the country’s most storied jewellers, with a store at Ramat Aviv Mall (Einstein Street 40, Tel Aviv) and other branches, and H. Stern, with stores in Jerusalem hotels and malls including Mamilla Mall and Malha Mall. Use their prices as a reference before you buy from an independent shop.
What you will actually pay in an Israeli shop
The price on the Gold Price in Israel page is the raw spot rate. The price you pay in a shop is usually higher — shops add making charges, labour, their margin and 18% VAT on jewellery. That is the part of the price you can actually negotiate: the spot price is the same for everyone, but making charges vary from shop to shop — and in the Diamond Exchange area, where dealers compete side by side, they vary a lot.
So compare the total price of the same piece in two or three shops, not just the per-gram rate, and check whether each quote includes VAT. Work out the metal value first with the Gold Value Calculator — enter the weight and karat and it gives the metal value at the live spot price, before dealer charges and tax. The difference is what you are paying for craftsmanship, brand and the shop itself. Price 14K jewellery against the live 24K rate using the karat fraction (14/24), and 18K using 18/24.
Buying tips for Israel
- Check the live price on the day you buy, and value the piece first with the Gold Value Calculator.
- Check whether the price includes 18% VAT — on jewellery it should, and a quote that leaves it out is not comparable with one that includes it.
- Compare making charges across two or three shops — in the Diamond Exchange complex the jewellers are side by side, and bargaining on making charges is normal there.
- Check the hallmark and karat — 14K gold is usually stamped 14K or 585, 18K is stamped 18K or 750, and 24K is stamped 999. If a piece is unmarked, have it tested first.
- Check the pure-gold content with the Gold Weight and Purity Calculator — stones, clasps and springs add weight without adding gold.
- Match the district to the purchase: the Diamond Exchange in Ramat Gan for fine and diamond-set jewellery, Kikar HaMedina for designer pieces, and Dizengoff and Ibn Gabirol for established high-street jewellers.
- Plan around Shabbat — most jewellery shops close early on Friday and stay closed on Saturday, so shop Sunday to Thursday.
- Keep the receipt and certificate for resale.
For the live price, start at the ToolZana home page or the gold price in Israel.
Frequently Asked Questions
What is the gold price in Israel today?
The live gold price in Israel is shown in ILS on the Gold Price in Israel page, per gram, per troy ounce and per kilogram. Prices refresh about every 60 seconds.
How is the gold price in Israel calculated?
From one global spot price per troy ounce in US dollars, converted into shekels at the live USD/ILS rate. Divide the spot price by 31.1034768 grams to get the price per gram in dollars, then convert at the live rate.
Why does the gold price in Israel change when the dollar moves?
Because the Israel price is the dollar spot price converted into shekels. If the shekel weakens, the gold price in Israel rises in shekels even when gold is flat — and if the shekel strengthens, the price falls.
Which karat of gold is best to buy in Israel?
For everyday jewellery, 14K gold (58.3% pure) is the standard — hard enough for daily wear. For fine and luxury jewellery, 18K (75% pure) is the usual choice, and for investment bars and coins, 24K (99.9% pure).
What is 14K gold in Israel?
14K gold is 14-karat gold, 58.3% pure. It is the everyday jewellery standard in Israel, used for most rings, chains and earrings, and it is usually stamped 14K or 585.
Where is the best place to buy gold in Israel?
The Israel Diamond Exchange complex on Jabotinsky Street in Ramat Gan is the main hub for fine and diamond-set gold jewellery. Kikar HaMedina in Tel Aviv is the choice for designer pieces, and Dizengoff and Ibn Gabirol streets have established high-street jewellers.
Is gold taxed in Israel?
Gold jewellery carries 18% VAT, the standard rate since 1 January 2025. Unlike the EU, Israel has no blanket VAT exemption for investment gold — gold is treated as a commodity and imported gold attracts VAT at customs — so ask any bullion dealer in writing how VAT is treated before you buy.
Can tourists get a VAT refund on gold jewellery in Israel?
No. The VAT exemption for tourists was withdrawn from 1 January 2025, so there is no tourist VAT refund on gold jewellery bought in Israel.
What is the difference between the spot price and the shop price in Israel?
The spot price is the raw market rate. Shops add making charges, labour, their margin and 18% VAT on jewellery, so the shop price is usually higher. Work out the metal value with the Gold Value Calculator first.
How do I calculate the value of my gold in Israel?
Enter the weight and karat in the Gold Value Calculator: it gives the metal value at the live spot price, before dealer charges and tax.